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The 1-for-30 consolidation materially reduces the float to ~603k shares, increasing per-share price and addressing the Nasdaq $1 minimum bid requirement; success could unlock improved liquidity and continued listing, though failure to sustain $1 could trigger delisting risk, creating a bifurcated outcome seen in prior reverse-splits.
What happened, with direct paths to the underlying reporting
IM Cannabis Corp unveiled a 1-for-30 share consolidation to lift its stock above Nasdaq's $1 minimum bid price. The company targets an August 27, 2026 effective date and post-consolidation Nasdaq trading, with ~603,922 shares outstanding. Nasdaq compliance by October 6, 2026 is required to avoid delisting, adding near-term regulatory risk.
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