Impact Biomedical corrects merger exchange ratio, sets reverse stock split
Impact Biomedical Inc. (NYSE American: IBO) corrected its merger exchange ratio with Zoar Limited on Monday, according to a press release. The company clarified that stockholders will receive one Zoar share for each Impact share held prior to the merger's effective date, following a reverse stock split. A previous September 11 statement had incorrectly set the ratio at one Zoar share for every four Impact shares.
The board approved a 1-for-12.62 reverse stock split, effective September 23 at 12:01 a.m. Eastern Time, as reported. This adjustment will occur while the stock continues trading on the NYSE American under ticker IBO. The reverse split, previously approved between 1-for-12.48 and 1-for-50 on December 30, 2025, will reduce shares from approximately 107.82 million to 8.54 million, rounding minor adjustments.
No fractional shares will be issued, with excess rounded up. Equiniti Trust Company manages the share exchange, and no fractional shares will be issued.
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