RenX Announces Reverse Stock Split to Regain Compliance with Nasdaq’s Minimum Bid Price

About this update from Renx Enterprises Corp.

[{"type":"text","content":"MIAMI, FL, March 24, 2026 (GLOBE NEWSWIRE) -- RenX Enterprises Corp. “RenX” (NASDAQ: RENX), a technology-driven environmental processing and sustainable materials company, today announced that it will effect a 1-for-20 reverse stock split (“reverse split”) of its common stock, par value $0.001 per share (“Common Stock”), that will become effective at 12:01 a.m. Eastern Time on March 26, 2026. The Company’s Common Stock will continue to trade on the Nasdaq Capital Market (“Nasdaq”) under the symbol “RENX” and will begin trading on a split-adjusted basis when the Nasdaq opens on March 26, 2026 (“Effective Time”). The new CUSIP number for the Common Stock following the reverse split will be 78637J402. At an annual meeting of stockholders held on September 29, 2025 (the “Annual Meeting”), the Company’s stockholders granted the Company’s Board of Directors the discretion to effect a reverse split of the Company’s Common Stock at a ratio of not less than 1-for-5 and not more than 1-for-20, with such ratio to be determined by the Company’s Board of Directors. Following the Annual Meeting, the final ratio of 1-for-20 was approved by the Company’s Board. “We continue to make progress with our current business objectives, focused on producing value-added compost, engineered soils, and specialty growing media for agricultural, commercial, and consumer end markets,” stated David Villarreal, CEO of RenX. “Nevertheless, similar to other micro-cap companies, we have faced a challenging capital markets environment. We believe this reverse split will allow us to regain compliance with Nasdaq’s minimum bid price requirement and to make our bid price more attractive to a broader universe of investors. We remain highly encouraged by the outlook for the business and look forward to providing updates on our progress.” The 1-for-20 reverse split will proportionally reduce the number of outstanding shares of Company Common Stock from approximately 50 million shares to approximately 2.5 million shares and the ownership percentage of each shareholder will remain unchanged other than as a result of fractional shares. Proportional adjustments will be made to the number of shares of RenX’s Common Stock issuable upon exercise or conversion of the Company’s outstanding equity awards and warrants, as well as the applicable exercise price. There will be no chan...

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