Olenox Industries Announces Stockholders' Approval of 1-for-10 Reverse Stock Split

Rhea-AI Summary

Olenox Industries (NASDAQ:OLOX) will effect a 1-for-10 reverse stock split effective May 8, 2026 at 12:01 AM Eastern Time. The split reduces issued and outstanding shares from approximately 10.2 million to 1.2 million and assigns new CUSIP 78418A802.

The Reverse Split is intended to increase the per-share trading price to satisfy the $1.00 minimum bid requirement for continued Nasdaq listing. Options, warrants, restricted stock awards and exercise/conversion prices will be proportionately adjusted. The Board approved the 1-for-10 ratio on April 22, 2026 after shareholder authorization on March 31, 2026.

Positive

• Outstanding shares reduced from approximately 10.2M to 1.2M
• Move aims to satisfy Nasdaq $1.00 minimum bid price for listing

Negative

• Reverse split signals previous share price below required Nasdaq threshold
• Rounding up fractional shares may slightly alter individual ownership percentages

News Market Reaction – OLOX

-22.16%

14 alerts

-22.16% Session close to close

-11.5% Trough in 19 min

$3.66M Market Cap

0.1x Rel. Volume

In the May 6 session, OLOX declined 22.16%, reflecting a significant negative market reaction. Argus tracked a trough of -11.5% from its starting point during tracking. Our momentum scanner triggered 14 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock dropped -22.2% in the session following this news. A negative reaction despite the reverse...

Analysis

The stock dropped -22.2% in the session following this news. A negative reaction despite the reverse split approval would fit a pattern where capital-structure and compliance news often preceded declines, such as the -22.18% move after the April 2, 2026 meeting. With shares previously around $0.592 and well below the $1.00 minimum bid, some holders could have focused on dilution history and restructuring headlines, using the news as a catalyst to reassess exposure after the float shrank to about 1.2M shares.

Key Figures

Reverse split ratio: 1-for-10 Effective time: 12:01 AM Eastern Time Minimum bid requirement: $1.00 +5 more

8 metrics

Reverse split ratio 1-for-10 Common stock reverse split effective May 8, 2026

Effective time 12:01 AM Eastern Time Reverse split effective May 8, 2026

Minimum bid requirement $1.00 Nasdaq minimum bid price target for continued listing

Par value $0.01 per share Par value of common stock unchanged by reverse split

Pre-split shares approximately 10.2 million Common shares issued and outstanding before reverse split

Post-split shares approximately 1.2 million Common shares issued and outstanding after reverse split

Authorized split range 1-for-10 to 1-for-20 Range approved at March 31, 2026 annual meeting

Current price $0.592 Pre-split price before reverse split announcement

Historical Context

5 past events · Latest: May 04 (Negative)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 04	Subsidiary reorganization	Negative	-1.9%	Wholly owned SG Echo LLC filed voluntary Chapter 11 reorganization to reduce liabilities.
Apr 22	Proposed merger	Positive	-9.5%	Announced all-stock merger with CS Digital to build off-grid Bitcoin mining platform.
Apr 21	Nasdaq notice	Negative	-9.5%	Received Nasdaq delinquency notice for late Form 10-K and outlined compliance timeline.
Apr 10	Acquisition update	Positive	+1.8%	Amended LOI to acquire Omega pipeline operator with about $36M deal value and EBITDA support.
Apr 02	Annual meeting results	Negative	-22.2%	Shareholders approved major share authorization increases and potential reverse split measures.

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

Pattern Detected

Recent news skewed toward restructurings, compliance issues, and equity actions, with most items followed by negative price reactions.

Recent Company History

This announcement follows several structurally important updates for Olenox. On April 2, 2026, shareholders approved large increases in authorized common shares and a potential 1-for-10 to 1-for-20 reverse split, which preceded a -22.18% move. Subsequent news included a Nasdaq delinquency notice on April 21, 2026 and a proposed all-stock merger with CS Digital on April 22, 2026, both tied to notable declines. The May 1-for-10 reverse split decision operationalizes that prior authorization amid a sub-$1.00 share price.

Key Terms

reverse stock split, nasdaq capital market, cusip, par value, +3 more

7 terms

reverse stock split financial

"announced that it will effect a 1-for-10 reverse stock split (the "Reverse 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 capital market regulatory

"trading on May 8, 2026, on a post-reverse split basis, on the Nasdaq Capital Market"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

cusip financial

"The new CUSIP number for the Common Stock following the Reverse Split will be 78418A802."

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

par value financial

"common stock, par value $0.01 per share (the "Common Stock")"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

certificate of amendment regulatory

"The Company will file a Certificate of Amendment to Olenox's Amended and Restated"

A certificate of amendment is an official filing that updates a company’s founding documents—its legal “rulebook” that sets share structure, voting rules, name and basic purpose. Think of it like changing the blueprint of a building: small changes are paperwork, big ones can alter who owns how much and who controls decisions. Investors watch these filings because they can affect share counts, voting power, dilution and company value.

street name financial

"Stockholders holding shares in street name (through a bank, broker, or other nominee)"

A "street name" is a way that stocks or other financial assets are registered under a broker's name rather than directly in an individual investor's name. This allows for easier buying, selling, and transferring of the assets, much like how a library might hold books on behalf of many readers. For investors, using a street name simplifies transactions and helps maintain privacy, but it also means the broker is the official record holder of ownership.

View in glossary

transfer agent financial

"Registered stockholders holding certificated shares will receive information from the Company's transfer agent"

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

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

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CONROE, TX / ACCESS Newswire / May 6, 2026 / Olenox Industries Inc. (NASDAQ:OLOX) ("Olenox" or the "Company"), a vertically integrated energy company focused on oil and gas, energy services and energy technologies, today announced that it will effect a 1-for-10 reverse stock split (the "Reverse Split") of its common stock, par value $0.01 per share (the "Common Stock"), that will become effective on May 8, 2026 at 12:01 AM Eastern Time. Olenox has requested that its Common Stock become trading on May 8, 2026, on a post-reverse split basis, on the Nasdaq Capital Market ("Nasdaq") under the existing symbol "OLOX". The new CUSIP number for the Common Stock following the Reverse Split will be 78418A802.

The Reverse Split is primarily intended to increase the per-share trading price of the Common Stock to satisfy the $1.00 minimum bid price requirement for continued listing on Nasdaq.

Reverse Stock Split

• Each 10 shares of issued and outstanding Common Stock will be automatically combined into one share of Common Stock.

• No fractional shares will be issued. Stockholders who would otherwise be entitled to receive a fractional share will have the number of shares rounded up to the next whole share.

• The Reverse Split will affect all stockholders uniformly and will not alter any stockholders' percentage ownership interest in the Company, other than minor changes resulting from the rounding up of fractional shares.

• Proportionate adjustments will be made to the number of shares of Common Stock underlying outstanding options, warrants, restricted stock awards, and other equity awards, as well as to the applicable exercise or conversion prices, as required by their terms.

• The par value of the Common Stock will remain unchanged at $0.01 per share. The Reverse Split will not affect the number of authorized shares of Common Stock or preferred stock.

• Following the Reverse Split, the number of shares of Common Stock issued and outstanding will be reduced from approximately 10.2 million to approximately 1.2 million.

Stockholder and Board Approvals

At the Company's Annual Meeting of Shareholders held on March 31, 2026, stockholders approved a proposal to authorize the Company's board of directors (the "Board"), in its sole and absolute discretion, to effect a reverse stock split at a ratio between 1-for-10 and 1-for-20. On April 22, 2026, the Board approved the Reverse Split at a ratio of 1-for-10. The Company will file a Certificate of Amendment to Olenox's Amended and Restated Certificate of Incorporation with the Delaware Secretary of State to effect the Reverse Split effective as of May 8, 2026, at 12:01 AM Eastern Time.

Treatment of Registered and Beneficial Holders

Stockholders holding shares in street name (through a bank, broker, or other nominee) will have their holdings automatically adjusted to reflect the Reverse Split, subject to the procedures of their bank or broker. Registered stockholders holding certificated shares will receive information from the Company's transfer agent with instructions for exchanging certificated shares, if applicable. No action by any stockholder is required solely as a result of the Reverse Split.

About Olenox Industries Inc.

Olenox Industries Inc. (NASDAQ:OLOX) is a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The Company is focused on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets.

Forward-Looking Statements

This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," "poised" or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity, and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance, or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Investors: investors@olenox.com

SOURCE: Olenox Industries Inc.

View the original press release on ACCESS Newswire

FAQ

What exactly is Olenox's (OLOX) reverse stock split and when is it effective?

The company is effecting a 1-for-10 reverse stock split effective May 8, 2026 at 12:01 AM ET. According to the company, each ten existing shares will be combined into one post-split share and the new CUSIP will be 78418A802.

Why did Olenox (OLOX) implement a 1-for-10 reverse split?

Olenox implemented the reverse split to increase its per-share trading price to meet Nasdaq’s $1.00 minimum bid. According to the company, the change is intended to preserve continued listing on the Nasdaq Capital Market.

How will the OLOX reverse split affect my stock count and ownership percentage?

Post-split, holdings will be adjusted so ten pre-split shares become one post-split share. According to the company, percentage ownership remains essentially unchanged except for minor rounding up of fractional shares.

What happens to Olenox (OLOX) options, warrants, and restricted stock awards after the split?

All equity awards will be proportionately adjusted in number and exercise or conversion price. According to the company, terms will be changed as required by each instrument to reflect the 1-for-10 ratio.

Will OLOX shareholders need to take action for the reverse split?

No action is required solely because of the Reverse Split for street or registered holders. According to the company, brokers will adjust street-name holdings and the transfer agent will instruct certificated holders on exchanges.