Clearmind Medicine Announces 1-for-10 Reverse Share Split
Rhea-AI Summary
Clearmind Medicine (Nasdaq: CMND) approved a 1-for-10 reverse share split of its issued and outstanding common shares, effective May 21, 2026. The action is part of a plan to regain compliance with the Nasdaq Minimum Bid Price Rule.
Issued and outstanding shares will be adjusted from 10,190,337 to approximately 1,019,033, while authorized share capital remains unlimited. No fractional shares will be issued; fractions will be rounded up, and all outstanding options and warrants will be adjusted proportionately.
AI-generated analysis. Not financial advice.
Positive
- 1-for-10 reverse split to support regaining Nasdaq Minimum Bid Price Rule compliance
- Fractional share positions rounded up to the nearest whole common share
Negative
- Need to regain compliance with Nasdaq Minimum Bid Price Rule indicates listing risk
Market Reaction – CMND
Following this news, CMND has declined 37.23%, reflecting a significant negative market reaction. Our momentum scanner has triggered 21 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $0.24. This price movement has removed approximately $338K from the company's valuation.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Market Reality Check
Peers on Argus
CMND fell 26.9% with elevated volume while peer moves were mixed (SXTP +1.41%, TTNP -3.96%, PLRZ -5.45%, SILO -0.84%). Momentum scanner peers also split (AIM -24.0%, PALI +2.61%), indicating company-specific pressure tied to the reverse split.
Previous Stock split Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 10 | Reverse share split | Negative | -37.3% | Announced 1-for-40 reverse split to regain Nasdaq Minimum Bid Price compliance. |
Prior reverse split news on Dec 10, 2025 (1-for-40) saw a -37.27% next-day move, showing a pattern of sharp negative reactions to split-related actions.
Clearmind previously implemented a 1-for-40 reverse share split announced on Dec 10, 2025 to regain Nasdaq bid-price compliance, reducing issued shares from 59,991,852 to 1,499,796. That event led to a -37.27% 24-hour price reaction. Today’s 1-for-10 reverse split, again aimed at bid-price compliance, similarly follows a period of price weakness, continuing a pattern of using splits to address listing requirements.
Historical Comparison
In the past, CMND’s only reverse split headline on Dec 10, 2025 triggered a -37.27% move. Today’s 1-for-10 split repeats the compliance-focused pattern, with another sharp downside reaction.
Within about six months, Clearmind moved from a 1-for-40 to a 1-for-10 reverse split, both framed as steps to regain or maintain Nasdaq Minimum Bid Price Rule compliance.
Regulatory & Risk Context
An effective Form F-3 filed on Apr 30, 2026 registers up to 22,626,988 common shares for resale tied to convertible promissory notes, based on up to $10.0M principal and $3.576M accrued interest at an assumed conversion price of $0.60. Conversions are limited so no CLA investor exceeds 4.99% beneficial ownership.
Market Pulse Summary
This announcement details a 1-for-10 reverse share split, effective May 21, 2026, reducing issued shares from about 10.19M to roughly 1.02M while leaving authorized capital unlimited and rounding fractional shares up. It mirrors a 1-for-40 reverse split from Dec 2025, both linked to Nasdaq Minimum Bid Price Rule compliance. Investors may track how this interacts with the effective Form F-3 covering 22,626,988 resale shares tied to convertible promissory notes.
Key Terms
nasdaq minimum bid price rule regulatory
warrants financial
AI-generated analysis. Not financial advice.
Vancouver, Canada, May 19, 2026 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND) (“Clearmind” or the “Company”), a clinical-stage biotech company focused on the discovery and development of novel, non-hallucinogenic, second generation, neuroplastogen-derived therapeutics to solve major under-treated health problems, today announced that it will conduct a reverse share split of its issued and outstanding common shares, no par value, at a ratio of 1-for-10. The reverse split is being effected as part of the Company’s plan to regain compliance with the Nasdaq Minimum Bid Price Rule and will be effective commencing May 21, 2026.
The reverse share split was approved by the Company’ board of directors on March 18, 2026, in accordance with the Company’s articles of association.
Following the implementation of the reverse split, the Company’s authorized share capital will remain unchanged, which as of the date hereof is unlimited. The reverse split will adjust the number of issued and outstanding Common Shares of the Company from 10,190,337 Common Shares to approximately 1,019,033 Common Shares (subject to any further adjustments based on the treatment of fractional shares).
No fractional Common Shares will be issued as a result of the reverse split. All fractional shares shall be rounded up to the nearest whole Common Share. In addition, a proportionate adjustment will be made to the per share exercise price and the number of Common Shares issuable upon the exercise of all outstanding options or warrants entitling the holders thereof to purchase Common Shares.
About Clearmind Medicine Inc.
Clearmind is a clinical-stage neuroplastogens pharmaceutical biotech company focused on the discovery and development of non-hallucinogenic, second generation, neuroplastogen-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods, or supplements.
The Company’s intellectual portfolio currently consists of nineteen patent families, including 31 granted patents. The Company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.
Shares of Clearmind are listed for trading on Nasdaq under the symbol “CMND.”
For further information visit: https://www.clearmindmedicine.com or contact:
Investor Relations
invest@clearmindmedicine.com
Telephone: (604) 260-1566
US: CMND@crescendo-ir.com
General Inquiries
Info@Clearmindmedicine.com
www.Clearmindmedicine.com
Forward-Looking Statements:
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses effecting a reverse share split and plan to regain compliance with the Nasdaq Minimum Bid Price Rule. There can be no assurance that the Panel will determine to continue to allow the listing of the Company’s securities on the Nasdaq Capital Market, or that the Company will consummate a reverse share split. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F for the fiscal year ended October 31, 2025 and subsequent filings with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Clearmind is not responsible for the contents of third-party websites.
