LNAI stockholders approve reverse stock split proposal

Stockholders of LNAI (NASDAQ: LNAI) approved a proposal to amend the company's certificate of incorporation to effect a reverse stock split during a special meeting held May 8, 2026, according to a company statement.

The proposal received 13,571,288 votes in favor, 1,153,415 votes against, and 61,177 abstentions. The amendment authorizes a reverse stock split of outstanding common stock shares at a ratio ranging from 1-for-3 to 1-for-30, with the exact ratio to be determined by the company's board of directors.

Stockholders also approved a second proposal allowing adjournment of the special meeting if necessary to solicit additional proxies. This proposal received 13,626,029 votes in favor, 1,091,528 votes against, and 68,323 abstentions.

The reverse stock split will reduce the number of outstanding shares while proportionally increasing the per-share price. The board retains discretion to determine the specific ratio within the approved range.

You May Also Be Interested In

• First Advantage to join S&P SmallCap 600, replacing Kennedy-Wilson
• NevGold completes debt settlement with 227,544 shares issued at $2.44 each
• Copa Holdings reports 17% increase in May passenger traffic