Impact BioMedical Inc. approves a reverse stock split of 1-for-12.62, effective September 23, 2026, ahead of a merger.
Quiver AI Summary
Impact BioMedical Inc. announced a reverse stock split of its common stock at a ratio of 1 for 12.62, effective on September 23, 2026. This decision, approved by the Board of Directors, aims to assist in a proposed merger with Zoar Ltd., which would create a new company focusing on the development and manufacturing of active pharmaceutical ingredients and drugs for emerging markets. Stockholders will receive one share of Zoar Ltd. for every four shares of Impact they hold post-split. The reverse stock split intends to maintain compliance with NYSE American listing standards, although it does not guarantee continued listing or completion of the merger. The total number of outstanding shares will reduce from approximately 107 million to about 8.5 million, with adjustments made to equity awards and related agreements. Stockholders need not take action, and the transfer will be managed by Equiniti Trust Company.
Potential Positives
- The approval of a reverse stock split indicates the Board's commitment to improving the stock's market performance and aligns with the company's continued-listing objectives on the NYSE American Exchange.
- The planned merger with Zoar Ltd. is expected to create a new entity with enhanced manufacturing and clinical development capabilities, broadening the company's reach in the pharmaceutical sector.
- Stockholders will benefit from a consolidation of shares, simplifying their holdings, and those who would receive fractional shares will be compensated by receiving whole shares, ensuring fair treatment for all investors.
- The upcoming change to a new CUSIP number signifies a fresh chapter for the company's stock, potentially attracting new investors and reflecting its strategic direction.
Potential Negatives
- The announcement of a reverse stock split often indicates that a company is struggling with its stock price, which could erode investor confidence.
- The reverse stock split does not guarantee that the company will meet NYSE American listing standards or successfully complete the proposed merger, adding uncertainty to the company's future.
- The significant reduction in the number of shares outstanding could lead to increased volatility in the stock price, which may be unfavorable for shareholders.
FAQ
What is the reverse stock split ratio for Impact BioMedical?
The reverse stock split ratio approved is 1 for 12.62 shares of Common Stock.
When will the reverse stock split become effective?
The reverse stock split will take effect at 12:01 a.m. Eastern Time on September 23, 2026.
How will the reverse stock split affect stockholders?
No stockholder’s percentage ownership will change, but fractional shares will be rounded up to whole shares.
What should stockholders expect after the merger with Zoar Ltd.?
Impact stockholders are expected to receive one share of Zoar Ltd. for every four shares of Impact held.
Who will manage the share exchange process for the reverse stock split?
The share exchange process will be managed by Impact BioMedical’s transfer agent, Equiniti Trust Company, LLC.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$IBO Insider Trading Activity
$IBO insiders have traded $IBO stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $IBO stock by insiders over the last 6 months:
- JASON GRADY sold 50,000 shares for an estimated $32,505
- TODD D MACKO (Chief Financial Officer) has made 0 purchases and 2 sales selling 45,000 shares for an estimated $25,330.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$IBO Hedge Fund Activity
We have seen 4 institutional investors add shares of $IBO stock to their portfolio, and 13 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILLENNIUM MANAGEMENT LLC removed 137,823 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $82,693
- UBS GROUP AG removed 30,017 shares (-92.6%) from their portfolio in Q2 2026, for an estimated $13,807
- JANE STREET GROUP, LLC added 24,528 shares (+inf%) to their portfolio in Q2 2026, for an estimated $11,282
- TWO SIGMA SECURITIES, LLC removed 22,695 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $13,617
- TWO SIGMA INVESTMENTS, LP removed 20,236 shares (-54.1%) from their portfolio in Q2 2026, for an estimated $9,308
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 16,501 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $9,900
- HRT FINANCIAL LP removed 13,533 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $8,119
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Full Release
HOUSTON, Sept. 11, 2026 (GLOBE NEWSWIRE) -- Impact BioMedical Inc. (the “ Company ”) today announced that the Company's Board of Directors has approved a 1 for 12.62 reverse stock split of the Company's issued and outstanding common stock, par value $0.001 per share (the " Common Stock "). The reverse stock split will become effective at 12:01 a.m., Eastern Time, on September 23, 2026. Starting with the opening of trading on that date, the Company’s Common Stock will continue to trade on the NYSE American Exchange under the ticker symbol “ IBO ” and will trade under a new CUSIP number to be assigned in connection with the reverse stock split.
On December 30, 2025, the Company's stockholders approved a second reverse stock split of the Company's Common Stock at a ratio of not less than 1-for-12.48 and not more than 1-for-50 to be implemented at the discretion of the Chief Executive Officer. The Reverse Stock Split is intended to support the Company’s efforts in connection with the proposed business-combination transaction and its continued-listing objectives. The Reverse Stock Split does not assure that the Company will satisfy applicable NYSE American continued-listing standards, obtain approval of any applicable listing application, or complete the proposed transaction.
The merger of Impact BioMedical Inc. and Zoar Ltd, upon approval, will result in a new company with manufacturing and clinical development expertise across a broad spectrum of active pharmaceutical ingredients (API’s) and intermediates for life-saving drugs worldwide, with immediate focus on emerging markets. It will also include significant intellectual property with potential in human health and wellness markets.
( Read the original merger announcement here. ).
Upon completion of the proposed merger, Impact stockholders are expected to receive one (1) share of Zoar Ltd. for every four (4) shares of Impact Common Stock held immediately prior to the effective time of the merger, after giving effect to the Reverse Stock Split.
The reverse stock split will combine every 12.62 shares of the Company’s issued and outstanding Common Stock into one (1) new share of Common Stock. No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who would otherwise be entitled to receive a fractional share will have their fractional share rounded up to the next whole share. Other than adjustments resulting from the treatment of fractional shares, the Reverse Stock Split will affect all stockholders uniformly and will not alter any stockholder’s percentage ownership interest in the Company.
Stockholders holding shares in book-entry form or through a bank, broker, or other nominee do not need to take any action. Impact BioMedical’s transfer agent, Equiniti Trust Company, LLC (“ Equiniti ”), will manage the exchange. Stockholders of record who hold physical certificates will receive a letter of transmittal from Equiniti with instructions for exchanging their shares. Unless a stockholder specifically requests new paper certificates (or holds restricted shares), new shares will be issued electronically in book-entry form.
Following the reverse stock split, the total number of shares of Common Stock outstanding is expected to decrease from approximately 107,821,231 to 8,543,679 subject to minor adjustments due to rounding. Corresponding proportional adjustments will also be made to:
- Outstanding equity awards and related exercise prices
- Shares available under equity incentive plans
-
Other relevant share-based agreements
The reverse stock split will not affect the total number of authorized shares, and all resulting shares will remain fully paid and non-assessable.
Additional information about the reverse stock split can be found in the Company's definitive information statement filed with the Securities and Exchange Commission (the " SEC ") on December 30, 2025, which is available free of charge at the SEC's website, www.sec.gov .
About Zoar Ltd.
Zoar Ltd. is a global pharmaceutical company focused on the development and manufacturing of active pharmaceutical ingredients, formulations, orphan drugs, and contract development and manufacturing services for pharmaceutical and biotechnology companies worldwide.
About IBO:
Impact BioMedical Inc. discovers, confirms, and patents unique science and technologies which can be developed into new offerings in biopharmaceuticals and consumer healthcare and wellness in collaboration with external partners through research, licensing, co-development, joint ventures, and other relationships.
Safe Harbor Disclosure:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date.
Investor Relations:
[email protected]
www.impactbiomedinc.com
