C3is Inc. Announces Reverse Stock Split

C3is (Nasdaq: CISS) announced a one-for-seven reverse stock split effective 11:59 pm ET on April 26, 2026, with trading on a split-adjusted basis beginning at the open on April 27, 2026.

Rhea-AI Summary

C3is (Nasdaq: CISS) announced a one-for-seven reverse stock split effective 11:59 pm ET on April 26, 2026, with trading on a split-adjusted basis beginning at the open on April 27, 2026.

The reverse split will reduce outstanding shares from approximately 3.7 million to approximately 528,305, assign CUSIP Y18284300, and proportionately adjust warrants and Series A convertible preferred stock. No fractional shares will be issued; fractional interests will be paid in cash based on the closing price on April 24, 2026 (adjusted for the split). The stated purpose is to increase the market price and satisfy Nasdaq minimum bid price requirements.

Positive

• Reverse split ratio: 1-for-7 effective Apr 27, 2026
• Outstanding shares reduced from ~3.7M to ~528,305
• Company aims to meet Nasdaq minimum bid price requirement

Negative

• Warrants and Series A convertible preferred will be adjusted to increase exercise price and reduce shares issuable
• No fractional shares issued; affected holders receive cash in lieu based on Apr 24, 2026 closing price

Argus Apr 23 session

-45.42% close to close Open Argus

Details

News Market Reaction – CISS

On Apr 23, the day this news came out, CISS closed 45.42% below the previous close.

Data tracked by StockTitan Argus for the Apr 23 session.

Key Figures

Reverse split ratio: 1-for-7 Outstanding shares pre-split: 3.7 million shares Outstanding shares post-split: 528,305 shares +5 more

Reverse split ratio

1-for-7

Common stock reverse split effective April 27, 2026

Outstanding shares pre-split

3.7 million shares

Approximate common shares before 1-for-7 reverse split

Outstanding shares post-split

528,305 shares

Approximate common shares after 1-for-7 reverse split

Effective time

11:59 pm ET, April 26, 2026

Reverse stock split effectiveness time

Split-adjusted trading date

April 27, 2026

First trading day on Nasdaq after split

CUSIP

Y18284300

New CUSIP assigned upon effectiveness of reverse split

Adjustment period for Class B & C warrants

5 trading days

Ends fifth trading day after effective time

Cash in lieu reference date

April 24, 2026

Closing price date used for fractional share cash payments

Previous Stock split Reports

3 past events · Latest: Jan 22

Same Type 3 events

1. Jan 22

   Reverse stock split

   24h Move

   -35.5%

   1-for-20 reverse split to lift share price and maintain Nasdaq listing.

2. Apr 02

   Reverse stock split

   24h Move

   -20.9%

   1-for-6 reverse split reducing share count to meet Nasdaq bid rules.

3. Dec 30

   Reverse stock split

   24h Move

   -22.1%

   1-for-2.5 reverse split aimed at maintaining Nasdaq minimum bid price.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

reverse stock split, nasdaq, cusip, class b warrants, +2 more

6 terms

reverse stock split financial

"announced that its board of directors has determined to effect a one-for-seven (1-for-7) reverse stock split"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

nasdaq financial

"Aiming to meet the minimum bid price requirement for maintaining listing on Nasdaq"

The Nasdaq is a stock exchange where many companies' shares are bought and sold, functioning much like a marketplace for investments. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping them track the value of those companies and make informed decisions. As one of the largest and most technology-focused markets, it also reflects trends and developments in the business world.

View in glossary

cusip financial

"The CUSIP number of Y18284300 will be assigned to the Company’s common stock"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

View in glossary

class b warrants financial

"With respect to the Company’s Class B Warrants and Class C Warrants, the exercise price"

Class B warrants are tradable contracts that give the holder the right to buy a company's Class B shares at a fixed price before a set date. Think of them as a coupon for a specific model of a product: if the market price of those Class B shares rises above the coupon price, the warrant lets an investor buy shares more cheaply, offering leveraged upside but also the potential to dilute existing owners when converted.

class c warrants financial

"With respect to the Company’s Class B Warrants and Class C Warrants, the exercise price"

Class C warrants are a specific series of financial instruments that give the holder the right, but not the obligation, to buy a set number of company shares at a predetermined price before a set expiration date; the “Class C” label simply distinguishes this series from other warrant series with different terms. They matter to investors because they provide leveraged exposure to potential share price gains while creating the possibility of share dilution if exercised—think of them like a time-limited coupon to buy stock at a fixed price that can change the total number of shares outstanding.

series a convertible preferred stock financial

"The Company’s outstanding warrants and Series A Convertible Preferred Stock will be proportionately adjusted"

Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.

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To be effective April 27, 2026

Aiming to meet the minimum bid price requirement for maintaining listing on Nasdaq

ATHENS, Greece, April 23, 2026 (GLOBE NEWSWIRE) -- C3is Inc. (the “Company”) (Nasdaq: CISS) today announced that its board of directors has determined to effect a one-for-seven (1-for-7) reverse stock split of the Company’s common stock, par value $0.01 per share.

The reverse stock split will take effect at 11:59 pm Eastern Time on April 26, 2026, and the Company’s common stock will begin trading on a split-adjusted basis on The Nasdaq Capital Market (“Nasdaq”) as of the opening of trading on April 27, 2026. The CUSIP number of Y18284300 will be assigned to the Company’s common stock when the reverse stock split becomes effective.

When the reverse stock split becomes effective, every seven (7) of the Company’s issued shares of common stock will be combined into one issued share of common stock, without any change to the par value per share. This will reduce the number of outstanding shares of common stock from approximately 3.7 million shares to approximately 528,305 shares. The Company’s outstanding warrants and Series A Convertible Preferred Stock will be proportionately adjusted to increase the exercise price and reduce the number of shares issuable upon exercise. With respect to the Company’s Class B Warrants and Class C Warrants, the exercise price and number of shares issuable upon exercise will be adjusted further in an adjustment period ending on the fifth trading day after the effective time of the reverse split pursuant to the terms of such warrants.

No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fraction of a share of common stock of the Company will receive a cash payment in lieu thereof at a price equal to that fraction of a share to which the stockholder would otherwise be entitled, multiplied by the closing price of the Company’s common stock on Nasdaq on April 24, 2026 (as adjusted for the reverse split).

Stockholders with shares held in book-entry form or through a bank, broker, or other nominee are not required to take any action and will see the consequence of the reverse stock split reflected in their accounts on or after April 27, 2026. Such beneficial holders may contact their bank, broker, or nominee for more information.

The reverse stock split ratio approved by the board of directors is within the range of ratios for a reverse stock split authorized by the stockholders of the Company.

The purpose of the reverse stock split is to increase the market price of the Company’s common stock. The Company believes that the reverse stock split will increase the market price for its common stock and allow it to satisfy the minimum bid price requirement for maintaining listing on Nasdaq.

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements with respect to the C3is Inc.’s ability to maintain compliance with Nasdaq’s continued listing standards and remain listed on Nasdaq or other major stock exchange and other statements that are forward-looking. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions. Although C3is Inc. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, C3is Inc. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include risks discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). Risks and uncertainties are further described in reports filed by C3is Inc. with the SEC.

ABOUT C3IS INC.

C3is Inc. is a ship-owning company providing dry bulk and crude oil seaborne transportation services. The Company currently owns five vessels, comprising three Handysize dry bulk carriers with a total capacity of 97,664 deadweight tons (dwt), an Aframax oil tanker with a cargo carrying capacity of 115,804 dwt and a product tanker with a cargo carrying capacity of 47,203 dwt, resulting in a fleet total capacity of 260,671 dwt. On a pro forma basis following the delivery of one additional MR product tanker, the Company’s fleet will consist of six vessels: three Handysize dry bulk carriers, one Aframax tanker, and two MR product tankers, with a total carrying capacity of approximately 311,431 dwt. C3is Inc.’s shares of Common Stock are listed on the Nasdaq Capital Market and trade under the symbol “CISS.”

For further information, please contact:

Company Contact:

Nina Pyndiah
Chief Financial Officer
C3is Inc. 
00-30-210-6250-001  
E-mail: info@c3is.pro

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What reverse stock split did CISS announce and when does it take effect?

C3is announced a one-for-seven reverse split, effective 11:59 pm ET on April 26, 2026, with trading adjusted on April 27, 2026. According to the company, the split consolidates every seven issued shares into one issued share of common stock.

How many CISS shares will be outstanding after the reverse split on April 27, 2026?

Outstanding shares are expected to fall to approximately 528,305 after the one-for-seven split. According to the company, this reflects a reduction from about 3.7 million issued shares prior to the split.

Will CISS warrants and convertible preferred shares change after the reverse split?

Yes. The exercise price and number of shares issuable under warrants and Series A convertible preferred will be proportionately adjusted. According to the company, certain Class B and C warrants face an additional adjustment period ending five trading days after the effective time.

What happens to fractional CISS shares after the one-for-seven reverse split?

No fractional shares will be issued; holders entitled to fractions will receive a cash payment instead. According to the company, the cash amount equals the fraction multiplied by the closing price on Nasdaq on April 24, 2026, adjusted for the reverse split.

Do CISS shareholders need to take action for the reverse split effective April 27, 2026?

Beneficial holders are not required to act; the split will be reflected automatically in brokerage or nominee accounts on or after April 27, 2026. According to the company, holders may contact their broker or nominee for account-specific information.