Super League Announces 1-for-12 Reverse Split

Rhea-AI Summary

Super League (Nasdaq: SLE) announced a 1-for-12 reverse stock split of its common stock effective 12:01 AM on January 23, 2026. On that Legal Effective Date every 12 issued and outstanding pre-split shares will be converted automatically into one post-split share, reducing outstanding shares from approximately 14.0 million to approximately 1.16 million. Shares are expected to begin trading on a split-adjusted basis on The Nasdaq Capital Market under the symbol SLE on January 23, 2026, and will receive a new CUSIP 86804F509.

Each stockholder's percentage ownership and voting power will remain substantially unchanged except for minor adjustments from fractional-share treatment; fractional shares will not be issued and will be rounded up to the nearest whole share. Street-name and book-entry holders need take no action; certificate holders will receive transmittal instructions from Broadridge.

Positive

• 1-for-12 reverse split reduces outstanding shares ~12x (14.0M to ~1.16M)
• Enables ongoing compliance with Nasdaq listing requirements
• Trading remains on Nasdaq under symbol SLE on Jan 23, 2026

Negative

• All fractional shares will be rounded up, causing minor post-split adjustments
• A new CUSIP (86804F509) may require processing by brokers and transfer agents

News Market Reaction

-31.04% 9.3x vol

22 alerts

-31.04% News Effect

-24.7% Trough in 6 hr 4 min

-$4M Valuation Impact

$9M Market Cap

9.3x Rel. Volume

On the day this news was published, SLE declined 31.04%, reflecting a significant negative market reaction. Argus tracked a trough of -24.7% from its starting point during tracking. Our momentum scanner triggered 22 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $9M at that time. Trading volume was exceptionally heavy at 9.3x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Reverse split ratio: 1-for-12 Outstanding shares pre-split: 14.0 million shares Outstanding shares post-split: 1.16 million shares +5 more

8 metrics

Reverse split ratio 1-for-12 Reverse stock split of common shares effective January 23, 2026

Outstanding shares pre-split 14.0 million shares Common stock before 1-for-12 reverse split

Outstanding shares post-split 1.16 million shares Common stock after 1-for-12 reverse split

Registered resale shares 49,700,000 shares Shares of common stock registered for resale on Form S-3

Outstanding shares in S-3 3,985,000 shares Existing common shares registered for resale

Warrant shares in S-3 45,715,000 shares Shares issuable upon exercise of various warrants

Potential warrant proceeds $29.7 million Cash proceeds if all registered warrants are exercised

Authorized common shares 750,000,000 shares Authorized share count after prior capital actions

Market Reality Check

Price: $5.90 Vol: Volume 340,090 vs 20-day ...

normal vol

$5.90 Last Close

Volume Volume 340,090 vs 20-day average 263,176 (relative volume 1.29x). normal

Technical Price 0.7336 is trading below the 200-day MA at 4.39, reflecting prior sustained weakness.

Peers on Argus

Peers show mixed moves: DGLY up 15.18%, SJ up 26.44%, ONFO down 5.24%, LCFY down...

Peers show mixed moves: DGLY up 15.18%, SJ up 26.44%, ONFO down 5.24%, LCFY down 3.77%, GITS up 1.14%, suggesting the reverse split news is stock-specific rather than sector-driven.

Historical Context

5 past events · Latest: Jan 15 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 15	Brand partnership	Positive	-0.8%	Regal Roblox theatre experience to drive play-to-reward engagement.
Jan 07	Acquisition	Positive	-9.8%	Acquisition of Let’s Bounce to enhance marketing-tech and revenue scale.
Jan 06	Governance change	Positive	-4.6%	New director and CEO becoming Chairman to strengthen capital markets expertise.
Jan 06	Asset acquisition	Positive	-4.6%	Stake in top Roblox game Hide or Die! to secure cash-generating assets.
Dec 09	Board additions	Positive	+7.4%	New board member and advisor with deep digital-asset expertise.

Pattern Detected

Recent SLE news has often been followed by negative price reactions, even on seemingly positive strategic and partnership announcements.

Recent Company History

Over the last few months, Super League announced multiple strategic moves, including acquisitions (Let’s Bounce and a stake in Roblox game Hide or Die!), new partnerships with Regal on Roblox, and several governance enhancements with board and advisor additions. Despite these growth-focused steps, four of the last five news events saw negative 24-hour price reactions, with only the Dec 9, 2025 board/strategy update posting a positive move of 7.39%. Today’s reverse split follows this backdrop of strategic expansion amid persistent share-price pressure.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-12-16

The company has an active S-3/A shelf registration dated 2025-12-16, effective through 2028-12-16, with 0 recorded usages so far. This provides pre-cleared capacity to issue registered securities in the future, subject to market conditions and company decisions.

Market Pulse Summary

The stock dropped -31.0% in the session following this news. A negative reaction despite the mechani...

Analysis

The stock dropped -31.0% in the session following this news. A negative reaction despite the mechanical nature of the 1-for-12 reverse split would fit a pattern where capital-structure changes heighten dilution concerns. The split cuts outstanding shares from 14.0 million to roughly 1.16 million to help maintain Nasdaq listing, but sits alongside a large overhang of 49,700,000 registered resale shares and prior increases to 750,000,000 authorized shares. The active S-3/A shelf through 2028-12-16 adds further issuance flexibility that the market may discount.

Key Terms

reverse stock split, par value, cusip, fractional shares, +2 more

6 terms

reverse stock split financial

"announced today a reverse stock split of its issued and outstanding shares"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

par value financial

"common stock, par value $0.001 per share ("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.

cusip financial

"The shares will be assigned new CUSIP No. 86804F509."

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.

fractional shares financial

"No fractional shares of the Company’s Common Stock will be issued; instead, all fractional shares will be rounded up"

Fractional shares are portions of a whole share of a stock or fund, allowing investors to own less than one full unit. They make it possible to invest a specific dollar amount rather than buy whole shares, like buying a slice of a pizza instead of the entire pie. For investors this lowers the cost barrier, helps with diversification, and lets you reinvest dividends or purchase expensive stocks in small, precise amounts.

street name financial

"Stockholders who hold their shares in brokerage accounts or in "street name" will have their positions automatically adjusted"

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.

book-entry form financial

"Registered stockholders holding pre-split shares ... electronically in book-entry form are not required to take any action"

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. Not financial advice.

SANTA MONICA, Calif., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Super League (Nasdaq: SLE) (the “Company”), a leader in playable media trusted by global brands to reach and activate gaming audiences through playable ads and gamified content, announced today a reverse stock split of its issued and outstanding shares of common stock, par value $0.001 per share ("Common Stock"), at a ratio of 1-for-12 (the “Reverse Split”).

The Reverse split is expected to become legally effective at 12:01 AM on January 23, 2026 (the "Legal Effective Date"). The shares are expected to begin trading on a split-adjusted basis on The Nasdaq Capital Market (“NCM”), under the Company's trading symbol "SLE", on January 23, 2026. The shares will be assigned new CUSIP No. 86804F509.

On the Legal Effective Date, every 12 issued and outstanding shares of the Company’s Common Stock will be converted automatically into one share of the Company’s Common Stock without any change in the par value per share. Once effective, the Reverse Split will reduce the number of shares of Common Stock outstanding from approximately 14.0 million shares to approximately 1.16 million shares.

The Reverse Split enables ongoing compliance with Nasdaq listing requirements.

Immediately after the Reverse Split, each stockholder's percentage ownership interest in the Company and proportional voting power will remain unchanged, except for minor changes and adjustments that will result from the treatment of fractional shares. No fractional shares of the Company’s Common Stock will be issued; instead, all fractional shares will be rounded up to the nearest whole share. The rights and privileges of the holders of shares of Common Stock will be substantially unaffected by the Reverse Split.

Stockholders who hold their shares in brokerage accounts or in "street name" will have their positions automatically adjusted to reflect the Reverse Split, subject to each broker's particular processes, and will not be required to take any action in connection with the Reverse Split. Registered stockholders holding pre-split shares of the Company's Common Stock electronically in book-entry form are not required to take any action to receive post-split shares. Those stockholders holding shares of the Company's Common Stock in certificate form will receive a transmittal letter from Broadridge with instructions as soon as practicable after the Legal Effective Date.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.

Forward Looking Statements can be identified by words such as “anticipate,” “intend,” "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements include all statements other than statements of historical fact, including, without limitation, all statements regarding Super League’s ability to maintain compliance with the Listing Rules of the Nasdaq Capital Market, and capital structure, liquidity, and financing activities. These statements are based on current expectations, estimates, forecasts, and projections about the industry and markets in which the Company operates, management’s current beliefs, and certain assumptions made by the Company, all of which are subject to change.

Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that are difficult to predict and that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Important factors include, but are not limited to: the Company’s ability to maintain compliance with Nasdaq Capital Market continued listing standards before and after the Legal Effective Date, including, without limitation, the Company’s ability to maintain a minimum stock price of at least $1.00 per share; the Company’s ability to adequately utilize the funds received recent financings; the Company’s ability to execute on cost reduction initiatives and strategic transactions; customer demand and adoption trends; the timing, outcome, and enforceability of any patent applications; the ability to successfully integrate new technologies and partnerships; platform, regulatory, macroeconomic and market conditions; access to, and the cost of, capital; and the other risks and uncertainties described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the Company’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025, and other filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

About Super League

Super League (Nasdaq: SLE) is redefining how brands connect with consumers through the power of playable media. The company creates moments that matter by placing brands directly in the path of play through playable ads and gamified content across mobile, web, CTV, social, and the world’s largest immersive gaming platforms. Powered by proprietary technologies, an award-winning development studio, and a vast network of native creators, Super League enables brands to stand out culturally, inspire loyalty, and drive measurable impact in today’s attention-driven economy. For more information, visit superleague.com.

Investor Relations Contact:
Shannon Devine/ Mark Schwalenberg
MZ North America
Main: 203-741-8811
SLE@mzgroup.us

FAQ

What is the ratio and effective date of the Super League (SLE) reverse split?

The company announced a 1-for-12 reverse split effective 12:01 AM on January 23, 2026.

How many Super League (SLE) shares will be outstanding after the reverse split?

Outstanding shares are expected to fall from approximately 14.0 million to approximately 1.16 million after the reverse split.

Will Super League (SLE) trading continue under the same ticker after the reverse split?

Yes. Shares are expected to trade on a split-adjusted basis on Nasdaq under the ticker SLE beginning January 23, 2026.

Do Super League (SLE) stockholders need to take any action for the reverse split?

No action is required for holders in brokerage accounts or book-entry; registered certificate holders will receive transmittal instructions from Broadridge.

How will fractional Super League (SLE) shares be handled in the reverse split?

No fractional shares will be issued; all fractional interests will be rounded up to the nearest whole share.