Allied Gaming schedules stockholder meeting on reverse stock split

Allied Gaming & Entertainment Inc. (NASDAQ: AGAE) announced its board approved a proposal for stockholders to vote on a reverse stock split at a special meeting scheduled for June 1, 2026.

The proposal would amend the company's certificate of incorporation to effect a reverse stock split at a ratio between 1-for-2 to 1-for-25. The board would determine the exact ratio and timing if implemented.

The company said the proposal aims to optimize capital structure and provide flexibility for potential strategic transactions and financing initiatives. Allied Gaming received a notice from Nasdaq staff and has requested a hearing before the Nasdaq Hearings Panel.

"The Company believes that if its closing bid price reaches and maintains at least $1.00 per share for a period of 10 consecutive trading days, it may be able to demonstrate compliance with Nasdaq's minimum bid price requirement," the company stated.

Chairman and CEO James Li said the proposal "reflects a disciplined approach to capital structure, corporate governance, and long-term strategic development" and is intended to support future strategic initiatives and business development opportunities.

Allied Gaming said it expects to file its Annual Report on Form 10-K for fiscal year 2025 within the next few days. The company describes itself as undergoing transformation from an experiential entertainment business into an AI-focused digital infrastructure platform.

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