Check-Cap Executes Reverse Split Ahead of MBody AI Merger
AI-generated image · Bay Street Wire
The company is consolidating shares to meet Nasdaq minimum bid price requirements for its upcoming listing application.
Check-Cap Ltd. (NASDAQ: MBAI) announced it will implement a 1-for-7 reverse share split of its ordinary shares on August 13, 2026, according to reporting from the Financial Post.
According to the company, the move is a shareholder-approved step intended to prepare for a proposed merger with physical AI company MBody AI Corp. Specifically, the reverse split is designed to position the combined entity to satisfy the $4.00 minimum bid price standard required for its initial listing application with Nasdaq.
Check-Cap stated that it is currently in compliance with all Nasdaq continued listing standards. Following the split, the number of issued and outstanding ordinary shares will be adjusted from approximately 9,463,062 down to approximately 1,351,866.
The company's Board of Directors approved the split on July 31, 2026, following shareholder approval granted during an Annual General Meeting on November 14, 2025. Equiniti Trust Company, LLC is serving as the transfer and exchange agent for the process.
Pending final Nasdaq approval and the satisfaction of customary closing conditions, the merger is expected to close in the third quarter of 2026, though Check-Cap noted that none of these conditions are assured.