Kustom Entertainment, Inc. will execute a 1-for-10 reverse stock split, with shares expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market on October 1, 2026. The company stated that the action is intended to raise the per-share trading price to meet the Nasdaq Capital Market's minimum $1.00 bid price requirement for continued listing.
The board of directors approved the reverse stock split on September 18, 2026. Following the implementation of the split, the number of outstanding shares of common stock will decrease from 6,506,860 to 650,686, subject to adjustment for the rounding up of fractional shares. The company will also implement a proportional reduction in the number of authorized shares of common stock, lowering the total from 13,333,333 to 1,333,334. The number of authorized shares of preferred stock remains unaffected by this change.
| Metric | Pre-Split | Post-Split |
|---|---|---|
| Outstanding Shares | 6,506,860 | 650,686 |
| Authorized Common Shares | 13,333,333 | 1,333,334 |
The common stock will carry a new CUSIP number of 25382T705. Nevada Agency and Transfer Company (NATCO), the company's transfer agent, will provide exchange instructions to stockholders of record who hold physical certificates. Stockholders holding shares in book-entry form or in brokerage accounts do not need to take any action to effect the exchange. Questions regarding the transfer agent can be directed to NATCO at 775-322-5623.
Kustom Entertainment describes itself as a leader in live event production and ticketing technology, specializing in large-scale music festivals such as the Country Stampede. The company provides end-to-end event management and proprietary ticketing solutions for venues across the United States. Stanton Ross serves as chief executive officer and Tom Heckman serves as chief financial officer for the company.