C3is (NASDAQ: CISS) slashes share count in late-night reverse split
Rhea-AI Filing Summary
C3is Inc. (CISS) reports that, effective as of 11:59 p.m. Eastern time on August 18, 2026, it implemented a one‑for‑40 reverse stock split of its common shares. The transaction reduced outstanding common stock from approximately 57.6 million shares to approximately 1.44 million shares and applied to all outstanding shares.
No fractional shares were issued; stockholders otherwise entitled to fractions received a cash payment based on the closing price on the trading day immediately preceding the effective date, as adjusted for the split. The par value of $0.01 per share and the number of authorized common and preferred shares were unchanged. Outstanding warrants and 5.00% Series A Cumulative Convertible Perpetual Preferred Stock are being proportionately adjusted, with certain warrant exercise and preferred conversion prices further reset to the lowest daily volume weighted average price in a specified 10‑trading‑day window around the split. Post‑split common shares now trade on the Nasdaq Capital Market under the symbol CISS with new CUSIP Y18284409.
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Filing Explained
This filing updates C3is Inc.’s May 13 prospectus by attaching its August 19 Form 6-K. Its change is documentary: it adds the already completed reverse-split disclosure to the prospectus record, while the split itself only consolidated shares and did not change company value by the split mechanism.
Key Figures
Key Terms
reverse stock split financial
volume weighted average price financial
Series A Cumulative Convertible Perpetual Preferred Stock financial
zero cash exercise exchange option financial
Business Corporations Act regulatory
Offering Details
FAQ
What reverse stock split did C3is Inc. (CISS) implement in August 2026?
What happened to C3is Inc. (CISS) warrants and Series A preferred after the reverse split?
Did the C3is Inc. (CISS) ticker or CUSIP change after the reverse stock split?
When did C3is Inc. (CISS) begin trading on a split-adjusted basis?
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