NFT Ltd announces 1‑for‑80 reverse share split effective May 18, 2026

NFT Ltd. (formerly Takung Art Co.) disclosed that its board approved a 1‑for‑80 reverse share split of both Class A and Class B ordinary shares, with the split slated to become effective on or about May 18, 2026 [1]. Under the new structure shareholders will receive one new share for every eighty they currently own, and the shares’ par value will be reset to $0.04. The company also announced a new CUSIP (G6363T123) for the Class A shares, which will continue trading under the ticker “MI” on NYSE American [1].

Before the split, NFT had roughly 18.48 million Class A shares outstanding; the reverse split will reduce that number to about 230,986 shares, effectively concentrating ownership and potentially lifting the market price by a factor of eighty [1]. The company cautioned that it cannot guarantee the post‑split price will reflect the intended ratio or remain above the pre‑split level [1]. All outstanding stock options, restricted shares, and equity‑incentive plan authorizations will be proportionally adjusted, and any fractional shares generated by the split will be rounded up to the nearest whole share [1].

Shareholders holding certificates will receive a transmittal letter from VStock Transfer LLC, the transfer agent, with instructions for exchanging old certificates; those holding shares in “street name” will be contacted by their brokers [1]. The reverse split follows a shareholder vote on April 17, 2026 that approved a split of up to 1‑for‑200, indicating board confidence in the move despite the company’s low share price [1].

The split aims to lift the per‑share price into a range more typical for NYSE American listings, which could improve market perception and potentially attract a broader investor base. However, the reduction in share count also raises questions about liquidity, as fewer shares may make trading more volatile. Investors will watch the opening price on May 18 to see whether the market validates the company’s expectations or signals deeper concerns about its financial health.