Impact BioMedical Inc (NYSE American: IBO) Announces 1 for 12.62 Reverse Stock Split to Pursue Completion of Merger with Zoar Ltd. (previously Dr. Ashley’s Ltd.)

Impact BioMedical consolidates its share count and sets terms ahead of a proposed merger with Zoar Ltd. while signaling ongoing listing and deal uncertainty.

Rhea-AI Summary

Impact BioMedical (IBO)/b) will implement a 1‑for‑12.62 reverse stock split of its common stock effective 12:01 a.m. Eastern Time on September 23, 2026, as it pursues completion of a proposed merger with Zoar Ltd.After the split, IBO will continue trading on the NYSE American under ticker “IBO” with a new CUSIP. The split, approved by stockholders on December 30, 2025 within a 1‑for‑12.48 to 1‑for‑50 range, is intended to support a business‑combination transaction and NYSE American continued‑listing objectives, but does not assure listing compliance or deal completion. Every 12.62 shares of common stock will be combined into one share, reducing outstanding shares from approximately 107,821,231 to 8,543,679, subject to rounding. Fractional shares will be rounded up to the next whole share and percentage ownership will remain unchanged except for such rounding.

Positive

• Reverse split reduces outstanding shares from 107,821,231 to about 8,543,679
• Stockholders expected to receive 1 Zoar share for every 4 Impact shares post‑split at merger closing
• No fractional shares; holdings rounded up, limiting loss of share count to investors

Negative

• Company states reverse split is intended to support NYSE American continued‑listing objectives, which are not yet assured
• Company notes reverse split does not assure completion of the proposed Zoar merger

News Explained

The September 23 split changes share units without changing ownership percentages; a proposed merger would exchange four Impact shares for one Zoar share if completed.

The board-approved reverse stock split is scheduled to take effect at 12:01 a.m. Eastern on September 23, 2026; it reduces share units without changing holders’ percentage ownership, apart from fractional-share rounding.

The separate Zoar merger remains proposed: if approved and completed, Impact holders are expected to receive one Zoar share for every four Impact shares held immediately before the merger, after the split.

The company says the split does not assure continued NYSE American compliance or completion of the merger, so it is a preparatory corporate action rather than evidence that the combination has closed.

The next named milestone is the September 23, 2026 effective time; the stated one-for-four exchange depends on the proposed merger being approved and completed.

Market Context

The December 30, 2025 DEF 14C authorized a reverse-split range of 1-for-12.48 to 1-for-50, establish...

Analysis

The December 30, 2025 DEF 14C authorized a reverse-split range of 1-for-12.48 to 1-for-50, establishing prior shareholder approval for the action announced in this release.

Key Figures

Reverse split ratio: 1-for-12.62 Effective date: September 23, 2026 Merger share consideration: 1 Zoar share for every 4 Impact shares +2 more

Reverse split ratio

1-for-12.62

Effective September 23, 2026

Effective date

September 23, 2026

12:01 a.m. Eastern Time

Merger share consideration

1 Zoar share for every 4 Impact shares

After giving effect to the reverse stock split

Shares outstanding before split

Approximately 107,821,231 shares

Expected pre-split share count

Shares outstanding after split

8,543,679 shares

Expected post-split share count, subject to rounding

Key Terms

reverse stock split, cusip number, active pharmaceutical ingredients, book-entry form

4 terms

reverse stock split financial

"approved a 1 for 12.62 reverse stock split of the Company's issued"

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.

cusip number technical

"will trade under a new CUSIP number to be assigned"

A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.

active pharmaceutical ingredients technical

"expertise across a broad spectrum of active pharmaceutical ingredients"

The active pharmaceutical ingredient (API) is the specific chemical or biological substance in a medicine that produces the intended health effect — the ‘engine’ that treats, prevents or diagnoses a condition. Investors watch APIs because they determine a drug’s cost, quality, regulatory approval and patent protection; shortages, manufacturing problems or competition at the API level can directly affect a drug maker’s sales and valuation.

book-entry form financial

"new shares will be issued electronically in book-entry form"

A book-entry form is an electronic record showing ownership of securities instead of a paper certificate; think of it like a bank account ledger that notes who owns shares. It matters to investors because it makes buying, selling and transferring securities faster, safer and cheaper by reducing paperwork, loss or forgery risk, and enabling easier settlement through brokers or a central depository.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HOUSTON, Sept. 11, 2026 (GLOBE NEWSWIRE) -- Impact BioMedical Inc. (the “Company”) today announced that the Company's Board of Directors has approved a 1 for 12.62 reverse stock split of the Company's issued and outstanding common stock, par value $0.001 per share (the "Common Stock"). The reverse stock split will become effective at 12:01 a.m., Eastern Time, on September 23, 2026. Starting with the opening of trading on that date, the Company’s Common Stock will continue to trade on the NYSE American Exchange under the ticker symbol “IBO” and will trade under a new CUSIP number to be assigned in connection with the reverse stock split.

On December 30, 2025, the Company's stockholders approved a second reverse stock split of the Company's Common Stock at a ratio of not less than 1-for-12.48 and not more than 1-for-50 to be implemented at the discretion of the Chief Executive Officer. The Reverse Stock Split is intended to support the Company’s efforts in connection with the proposed business-combination transaction and its continued-listing objectives. The Reverse Stock Split does not assure that the Company will satisfy applicable NYSE American continued-listing standards, obtain approval of any applicable listing application, or complete the proposed transaction.

The merger of Impact BioMedical Inc. and Zoar Ltd, upon approval, will result in a new company with manufacturing and clinical development expertise across a broad spectrum of active pharmaceutical ingredients (API’s) and intermediates for life-saving drugs worldwide, with immediate focus on emerging markets. It will also include significant intellectual property with potential in human health and wellness markets.

( Read the original merger announcement here.).  

Upon completion of the proposed merger, Impact stockholders are expected to receive one (1) share of Zoar Ltd. for every four (4) shares of Impact Common Stock held immediately prior to the effective time of the merger, after giving effect to the Reverse Stock Split.

The reverse stock split will combine every 12.62 shares of the Company’s issued and outstanding Common Stock into one (1) new share of 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 have their fractional share rounded up to the next whole share. Other than adjustments resulting from the treatment of fractional shares, the Reverse Stock Split will affect all stockholders uniformly and will not alter any stockholder’s percentage ownership interest in the Company.

Stockholders holding shares in book-entry form or through a bank, broker, or other nominee do not need to take any action. Impact BioMedical’s transfer agent, Equiniti Trust Company, LLC (“Equiniti”), will manage the exchange. Stockholders of record who hold physical certificates will receive a letter of transmittal from Equiniti with instructions for exchanging their shares. Unless a stockholder specifically requests new paper certificates (or holds restricted shares), new shares will be issued electronically in book-entry form.

Following the reverse stock split, the total number of shares of Common Stock outstanding is expected to decrease from approximately 107,821,231 to 8,543,679 subject to minor adjustments due to rounding. Corresponding proportional adjustments will also be made to:

• Outstanding equity awards and related exercise prices
• Shares available under equity incentive plans
• Other relevant share-based agreements
  
  

The reverse stock split will not affect the total number of authorized shares, and all resulting shares will remain fully paid and non-assessable.

Additional information about the reverse stock split can be found in the Company's definitive information statement filed with the Securities and Exchange Commission (the "SEC") on December 30, 2025, which is available free of charge at the SEC's website, www.sec.gov.

About Zoar Ltd.
Zoar Ltd. is a global pharmaceutical company focused on the development and manufacturing of active pharmaceutical ingredients, formulations, orphan drugs, and contract development and manufacturing services for pharmaceutical and biotechnology companies worldwide.

About IBO:
Impact BioMedical Inc. discovers, confirms, and patents unique science and technologies which can be developed into new offerings in biopharmaceuticals and consumer healthcare and wellness in collaboration with external partners through research, licensing, co-development, joint ventures, and other relationships.

Safe Harbor Disclosure:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date.

Investor Relations:
info@impactbiomedinc.com
www.impactbiomedinc.com

FAQ

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

When does the reverse stock split take effect and how will IBO trade afterward?

The reverse stock split becomes effective at 12:01 a.m. Eastern Time on September 23, 2026. Beginning with the opening of trading that day, Impact BioMedical’s common stock will continue to trade on the NYSE American under the ticker symbol “IBO” and will trade under a new CUSIP number assigned in connection with the split.

How will fractional shares be treated in Impact BioMedical’s reverse stock split?

No fractional shares will be issued. Any stockholder who would otherwise be entitled to receive a fractional share after the 1‑for‑12.62 consolidation will have that fractional share rounded up to the next whole share. Other than these rounding adjustments, the split is expected to affect all stockholders uniformly.

Do stockholders need to take any action for the reverse split?

Stockholders holding shares in book‑entry form or through a bank, broker, or other nominee do not need to take any action. Equiniti Trust Company, LLC, the transfer agent, will manage the exchange. Stockholders of record who hold physical certificates will receive a letter of transmittal from Equiniti with instructions for exchanging their certificates. Unless a stockholder specifically requests new paper certificates or holds restricted shares, new shares will be issued electronically in book‑entry form.

What happens to Impact BioMedical’s authorized share count and share‑based awards?

The reverse stock split will not affect the total number of authorized shares, and all resulting shares will remain fully paid and non‑assessable. Corresponding proportional adjustments will be made to outstanding equity awards and their exercise prices, shares available under equity incentive plans, and other relevant share‑based agreements.

What merger consideration is currently expected for Impact stockholders?

Upon completion of the proposed merger with Zoar Ltd., Impact BioMedical stockholders are expected to receive one (1) share of Zoar Ltd. for every four (4) shares of Impact common stock held immediately prior to the effective time of the merger, after giving effect to the reverse stock split.

What business profile is described for the combined company with Zoar Ltd.?

The company describes that, upon approval and completion of the merger, the combined entity would have manufacturing and clinical development expertise across a broad spectrum of active pharmaceutical ingredients and intermediates for life‑saving drugs worldwide, with an initial focus on emerging markets, and would include intellectual property with potential in human health and wellness markets.