Wearable Devices Announces 1-for-3 Reverse Share Split to Regain Nasdaq Compliance

Wearable Devices Ltd. (NASDAQ: WLDS) announced that it will implement a 1-for-3 reverse share split of its ordinary shares and publicly traded warrants, effective at the opening of trading on June 22, 2026. The company stated that the reverse split is intended to increase the per-share trading price of its ordinary shares and regain compliance with Nasdaq's $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market.

The reverse split, previously approved by shareholders and the board of directors, will reduce the number of outstanding ordinary shares from approximately 6.57 million to 2.19 million and reduce publicly held warrants from approximately 32,886 to 10,962, subject to rounding adjustments. Wearable Devices emphasized that the transaction will not alter shareholders' proportional ownership interests, other than minor changes resulting from the treatment of fractional shares. The company will also make corresponding adjustments to outstanding options, warrants, restricted share awards, and equity incentive plans.

This corporate action is a strategic move to maintain the company's listing on the Nasdaq Capital Market, which is crucial for investor visibility and access to capital markets. Wearable Devices, a growth company pioneering human-computer interaction through its AI-powered neural input touchless technology, has been trading below the $1.00 threshold, triggering the need for remedial measures. The reverse split is a common approach for companies to boost share price and meet exchange requirements.

Wearable Devices' consumer products, including the Mudra Band and Mudra Link, define the neural input category for wrist-worn devices and brain-computer interfaces, enabling touch-free, intuitive control of digital devices using gestures. The company operates through a dual-channel model of direct-to-consumer sales and enterprise licensing. Its ai6 Labs ecosystem integrates research, products, and AI breakthroughs. The company's ordinary shares and warrants trade under the symbols 'WLDS' and 'WLDSW,' respectively.

For more details, the full press release is available at https://ibn.fm/nXyEK. Additional news and updates regarding WLDS can be found in the company's newsroom at https://ibn.fm/WLDS.