ESTERO, FL / ACCESS Newswire / May 7, 2026 / Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) ("Aspire" or the "Company"), a developer of a multi-faceted patent-pending drug delivery technology, today announced that it will effect a one-for-thirty (1:30) reverse stock split (the "reverse split") of its common stock, par value $0.0001 per share (the "Common Stock"), that will become effective on May 11, 2026, at 12:01 AM Eastern Time, before the opening of trading on The Nasdaq Capital Market ("Nasdaq"). Aspire has requested that its Common Stock begin trading on May 11, 2026, on a post-reverse split basis on the Nasdaq under the existing symbol "ASBP".
The reverse split is primarily intended to bring Aspire into compliance with the minimum bid price requirement for maintaining its listing on the Nasdaq. The new CUSIP number for the Common Stock following the reverse split will be 738920305.
At Aspire's special meeting of stockholders on April 10, 2026 (the "Special Meeting"), Aspire's stockholders approved the proposal to authorize Aspire's board of directors (the "Board"), in its sole and absolute discretion, to file a certificate of amendment (the "Amendment") to Aspire's amended and restated certificate of incorporation to effect the reverse split of the Company at a ratio of one-to-thirty (1:30). On April 24, 2026, the Board approved the reverse split at a ratio of one-to-thirty (1:30), and the Amendment has been filed with the Secretary of State of the State of Delaware, which will become effective on May 11, 2026, at 12:01 AM Eastern Time, before the opening of trading on the Nasdaq.
The reverse split will affect all issued and outstanding shares of Common Stock. All outstanding options, restricted stock awards, warrants and other securities entitling their holders to purchase or otherwise receive shares of Common Stock will be adjusted as a result of the reverse split, as required by the terms of each security. The number of shares available to be awarded under any Equity Incentive Plan, will also be appropriately adjusted. Following the reverse split, the par value of the Common Stock will remain unchanged at $0.0001 per share. The reverse split will not change the authorized number of shares of Common Stock or preferred stock. No fractional shares of Common Stock shall be issued as a result of the Reverse Split, and stockholders who otherwise would be entitled to receive fractional shares of New Common Stock shall be entitled to receive the number of shares of New Common Stock rounded up to the next whole number. The reverse split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in Aspire's equity (other than as a result of the rounding of fractional shares, as set forth above).
The reverse split will reduce the number of shares of Common Stock issued and outstanding from approximately 36,329,490 million to approximately 1,210,983 million.
About Aspire Biopharma, Inc.
Aspire Biopharma has developed a patent-pending sublingual delivery technology that can deliver drugs to the body rapidly and precisely. This technology offers the potential to improve effectiveness and reduce side effects by going directly to the bloodstream and avoiding the gastrointestinal tract. Aspire Biopharma's delivery technology can be applied to many different active pharmaceutical ingredients (APIs) and other bioactive substances, spanning both small and large molecule therapeutics, nutraceuticals and supplements.
For more information, please visit www.aspirebiolabs.com
Aspire Biopharma Holdings, Inc.
Contact
PCG Advisory
Kevin McGrath
+1-646-418-7002
kevin@pcgadvisory.com
Safe Harbor Statement
Certain statements made in this communication are "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as "estimate," "projects," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "potential," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the financial position, business strategy and the plans and objectives of management for future operations. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Aspire's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
SOURCE: Aspire Biopharma Holdings, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/aspire-biopharma-holdings-inc.-announces-approval-of-reverse-stock-sp-1164795
