Wearable Devices Ltd. (NASDAQ: WLDS) has announced 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 move is intended to raise 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. The company emphasized that the transaction will not alter shareholders' proportional ownership interests, other than minor changes from the treatment of fractional shares, and will include corresponding adjustments to outstanding options, warrants, restricted share awards, and equity incentive plans.
Wearable Devices is a growth company pioneering human-computer interaction through its AI-powered neural input touchless technology. The company's consumer products, the Mudra Band and Mudra Link, enable touch-free, intuitive control of digital devices using gestures across multiple operating systems. The newly launched ai6 Labs ecosystem integrates research, products, and AI breakthroughs to accelerate this vision. Wearable Devices' ordinary shares and warrants trade on the Nasdaq Capital Market under the symbols "WLDS" and "WLDSW," respectively.
This reverse split is a strategic step to maintain the company's Nasdaq listing, which is crucial for investor confidence and access to capital markets. By increasing the share price, Wearable Devices aims to attract a broader base of institutional investors and improve the perceived value of its stock. The company continues to focus on its dual-channel model of direct-to-consumer sales and enterprise licensing, targeting growth in the XR ecosystem and neural input market.
For more details, the full press release is available at https://ibn.fm/nXyEK. Investors can find the latest news and updates about Wearable Devices at the company's newsroom at https://ibn.fm/WLDS.