Clearmind Medicine slashes shares in 1-for-40 reverse split to meet Nasdaq rules
Clearmind Medicine Inc., a biotech firm specialising in psychedelic-derived treatments, has announced a major change to its share structure. The company will carry out a 1-for-40 reverse share split, set to take effect on December 15, 2025. This move is designed to help the firm meet Nasdaq’s minimum bid price requirements.
The reverse split will reduce Clearmind’s total issued and outstanding common shares from 59,991,852 to just 1,499,796. No fractional shares will be created, and any fractions will be rounded up to the nearest whole number.
The reverse split will come into force on December 15, 2025. After the change, the number of outstanding shares will drop significantly, aligning with Nasdaq’s requirements. The company’s focus on psychedelic pharmaceuticals and its patent portfolio remain central to its operations.
