Snail will consolidate its Class A and B common stock at a 1-for-5 ratio, adjusting par value to $0.0001 per share.
Snail announced a 1-for-5 reverse stock split for its Class A and Class B common stock, each with a par value of $0.0001 per share. The move aims to consolidate shares and potentially improve trading liquidity and perception of share value.
The reverse stock split reduces the number of outstanding shares by combining five existing shares into one. No change in the par value or total market capitalization is expected, though the share price will adjust proportionally.
Details on the effective date and market reaction were not immediately disclosed.