1-for-50 reverse split of common shares outstanding now complete
2,513,425 common shares now outstanding
A new CUSIP was issued in connection with reverse split
TAMPA, FL / ACCESS Newswire / May 26, 2026 / Wellgistics Health, Inc. ("Wellgistics") (NASDAQ:WGRX), a Health IT leader, integrating pharmacy dispensing AI platform EinsteinRx into patented pharmacy smart contracts platform PharmacyChain, today announced that it completed a 1-for-50 reverse stock split (the "Reverse Split") of the Company's common stock, par value $0.00001 per share (the "Common Stock"). The Reverse Split was approved by a majority of the stockholders of the Company on April 2, 2026. The Common Stock is now trading under a new CUSIP number.
The Reverse Split legally took effect at 12:01 a.m. Eastern Time, on May 26, 2026. The Reverse Split is intended to increase the per share trading price of the Common Stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.
The 1-for-50 Reverse Split automatically converted every 50 previous shares of the Company's Common Stock into one share of Common Stock. No fractional shares were issued in connection with the Reverse Split. Any fractional share of Common Stock that would otherwise result from the Reverse Split was rounded up to the nearest whole share.
The Reverse Split reduced the number of shares of outstanding Common Stock from approximately 125,671,251 to approximately 2,513,425 shares of Common Stock.
About Wellgistics Health, Inc.
Wellgistics Health (NASDAQ:WGRX) is a Health IT leader integrating its proprietary pharmacy dispensing optimization artificial intelligence platform EinsteinRx into its blockchain-enabled smart contracts platform PharmacyChain to optimize the prescription drug dispensing journey. Its integrated platform connects more than 6,500 pharmacies and 200+ manufacturers, offering wholesale distribution, digital prescription routing, direct-to-patient delivery, and AI-powered hub services such as eligibility verification, onboarding, adherence support, prior authorization, and cash-pay fulfillment designed to improve patient access and transparency across the prescription ecosystem.
For more information, visit www.wellgisticshealth.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the Company's intent or ability to regain compliance with Nasdaq's minimum bid price requirement, the expected effect of the reverse stock split on the per share trading price of the Company's common stock, and the Company's continued listing on The Nasdaq Capital Market. Forward-looking statements are based on current expectations, estimates and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks relating to fluctuations in the market price of the Company's common stock, the Company's ability to satisfy Nasdaq's continued listing requirements, market and trading conditions, the impact of the reverse stock split on investor interest and liquidity in the Company's common stock, and other risks described in the Company's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Wellgistics Media & Investor Contact
Media: media@wellgisticshealth.com
Investor Relations: IR@wellgisticshealth.com
SOURCE: Wellgistics Health, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/wellgistics-health-completes-reverse-split-1170512
