Alpharetta – November 07, 2026 -- Mynd.ai, Inc. will raise the number of ordinary shares represented by each American Depositary Share from 10 to 75, an adjustment that works as a one-for-7.5 reverse ADS split for holders.
Mynd.ai sets effective date of December 7, 2027 for the ratio change
The company said the change is expected to take effect on or about December 7, 2027 (U.S. Eastern Time). It remains subject to completion of procedures with its depositary, Citibank, N.A., and other relevant parties. The ADSs will keep trading on the NYSE American under the symbol "MYND" and will carry a new CUSIP number, 628988206.
The underlying ordinary shares are unaffected. No ordinary shares will be issued or cancelled.
Holders receive one new ADS for every 7.5 existing ADSs, with fractions cashed out
The exchange is expected to occur automatically on the effective date. Citibank will cancel the then-held ADSs and issue new ones at a rate of one new ADS for every seven and one-half existing ADSs.
No fractional new ADSs will be issued. The depositary will aggregate fractional entitlements and sell them. Net cash proceeds, after fees, taxes and expenses, will go to the affected holders under the terms of the deposit agreement.
Mynd.ai covers depositary fees and requires no action from ADS holders
Holders do not need to act. ADSs in brokerage accounts will be adjusted automatically, and holders of certificated ADSs will receive instructions from the depositary. Mynd.ai will pay the depositary's fees and charges for the surrender, cancellation, exchange and issuance of ADSs tied to the change.
The company advised holders to consult their brokers, banks or other financial intermediaries on how their positions will be treated.