Class A Common Stock Expected to Begin Trading on a Split-Adjusted Basis on October 1, 2026
LAS VEGAS, September 25, 2026--(BUSINESS WIRE)--PLAYSTUDIOS, Inc. (Nasdaq: MYPS) (the "Company") today announced that it will effect a 1-for-10 reverse stock split (the "Reverse Stock Split") of its Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), and Class B common stock, par value $0.0001 per share (the "Class B Common Stock" and, together with the Class A Common Stock, the "Common Stock").
The Reverse Stock Split will become effective at 5:00 p.m. Eastern Time on September 30, 2026 (the "Effective Time"). The Company's Class A Common Stock is expected to begin trading on a split-adjusted basis on The Nasdaq Capital Market at the opening of trading on October 1, 2026 under the existing ticker symbol "MYPS."
The Company also announced that, during the third quarter of 2026 through September 24, it has repurchased approximately 4.3 million shares of Class A Common Stock for an aggregate purchase price of $3.0 million, or an average price of approximately $0.71 per share, in open-market transactions pursuant to its existing Rule 10b5-1 share repurchase plan. The Company continues to evaluate opportunities to return capital to stockholders, including through additional share repurchases under its existing authorization and other potential capital return initiatives.
At the Effective Time, every 10 shares of Class A Common Stock issued and outstanding immediately prior to the Effective Time will automatically be combined into one share of Class A Common Stock, and every 10 shares of Class B Common Stock issued and outstanding immediately prior to the Effective Time will automatically be combined into one share of Class B Common Stock. The Reverse Stock Split will not change the par value of the Common Stock or the number of authorized shares of Class A Common Stock or Class B Common Stock. The Reverse Stock Split will apply equally to both classes of Common Stock and will not change the relative voting rights of the holders of Class A Common Stock and Class B Common Stock.
No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who would otherwise be entitled to receive a fractional share will instead receive cash in lieu of the fractional share in an amount equal to the fraction multiplied by the official closing price of the Class A Common Stock on The Nasdaq Capital Market on September 30, 2026, as adjusted for the Reverse Stock Split.