- KWESST Micro Systems (KWE, Financial) announces a 1-for-21 share consolidation effective April 23, 2025.
- Share count to reduce from 11,137,638 to approximately 530,363 shares post-consolidation.
- The move aims to maintain Nasdaq Capital Market compliance by increasing the bid price.
KWESST Micro Systems Inc. (KWE) has announced a significant 1-for-21 share consolidation, which will take effect on April 23, 2025. The company's decision, supported by shareholder approval obtained on March 31, 2025, seeks to meet the Nasdaq Capital Market’s minimum bid price requirements by boosting the share price.
Following the consolidation, KWESST’s outstanding shares will drastically decrease from 11,137,638 to approximately 530,363 shares. Despite the consolidation, the company’s name and trading symbols will remain unchanged. New identification numbers will be assigned: CUSIP 501506802 and ISIN CA5015068029.
The consolidation also impacts KWESST's Listed Warrants, requiring 21 warrants to purchase a single post-consolidation share at a new exercise price of US$1,050.00. Registered shareholders will receive detailed instructions for exchanging their share certificates, although those with brokerage accounts are not required to take any action.
This strategic move reflects KWESST's efforts to preserve its listing on the Nasdaq, which is crucial for maintaining liquidity and institutional investor access. While the consolidation adjusts the capital structure, it signals the company's response to market challenges and its commitment to regulatory compliance.
