IM Cannabis Corp. (NASDAQ: IMCC) said its board approved a 1-for-30 reverse stock split to address Nasdaq’s $1.00 minimum bid price requirement.
The consolidation is scheduled to take effect on August 27, with shares expected to begin trading on a post-split basis that day, subject to final exchange confirmation. The move follows a decline in the company’s share price, which has fallen below the exchange’s compliance threshold.
Outstanding common shares are expected to decrease from approximately 18.12 million to about 603,922 upon completion of the split. Fractional shares of one-half or greater will be rounded up to the next whole number, while smaller fractions will be cancelled. Exercise and conversion prices for outstanding convertible securities will be adjusted proportionately.
The company’s stock symbol, IMCC, will remain unchanged. To regain compliance, the closing bid price must reach at least $1.00 per share for a minimum of ten consecutive business days within the 180-day compliance period ending October 6, 2026.
IM Cannabis operates a medical cannabis platform serving patients in Israel and Germany. In Israel, the company imports, distributes, and operates retail pharmacies and online platforms. In Germany, it distributes cannabis to pharmacies through its subsidiary Adjupharm GmbH. Shareholder instructions for the exchange will be handled by Computershare Investor Services Inc.
