NFT Ltd Announces Reverse Stock Split

NFT Ltd's board of directors approved a 1-for-80 reverse share split of its Class A and Class B ordinary shares on April 23, 2026, following shareholder approval on April 17, 2026 [1]. This move is expected to become effective on or about May 18, 2026, and will reduce the number of outstanding Class A ordinary shares from approximately 18,478,875 to 230,986 [1].

The reverse split is intended to lead NFT's Class A ordinary shares to trade at approximately eighty times the price per share at which it trades prior to the effectiveness of the Reverse Split [1]. However, the company cannot assure that the price of its Class A ordinary shares after the Reverse Split will reflect the 1 for 80 Reverse Split ratio [1]. The Class A ordinary shares will continue to trade on the NYSE American under the symbol "MI" with a new CUSIP number, G6363T123 [1].

The number of ordinary shares into which NFT's outstanding stock options and restricted shares will be proportionally adjusted to reflect the Reverse Split [1]. Any fractional shares that would have resulted from the Reverse Split will be rounded up to the nearest whole share [1]. NFT's transfer agent, VStock Transfer LLC, will manage the exchange of share certificates, and shareholders of record will receive a letter of transmittal providing instructions for the exchange of their old certificates [1].

The reverse split is a significant development for NFT Ltd, which operates an online electronic platform for offering and trading of digital artwork [2]. The company generates revenue in the form of services in connection with the offering and trading of artwork on its platform, primarily consisting of listing fees, trading commissions, and management fees [2]. With the reverse split, NFT Ltd aims to improve the trading price of its Class A ordinary shares, but it remains to be seen how the market will react to this move, and whether the company's efforts will pay off, with the new share price expected to be around 80 times the current price, a significant change for investors.