T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID), dba Trust Stamp, said on Thursday that a reverse stock split of its shares will take effect at the market open on January 6.
The split, approved by the company’s board of directors and shareholders, will occur at a 1-for-15 ratio.
CEO Gareth Genner said the move is aimed at regaining compliance with Nasdaq's listing standards, which requires a minimum bid price, adding the decision aligns with broader efforts to position the company for growth in 2025.
“We believe the reverse split brings our share price to a level where we will be eligible for investment by a greater number of family offices and institutions, and we will seek to significantly grow our shareholder base by reaching out to those investors to introduce them to our unique technology, and exciting growth opportunities,” Genner said in a statement.
Each 15 shares of issued and outstanding stock will be consolidated into one share, while the number of authorized shares and the par value per share will remain unchanged. Any fractional shares resulting from the split will be rounded up to the nearest whole share.
Genner added that the management team has “repositioned the company for 2025 with new strategic partnerships, new sources of income, and reduced expenses.”
Trust Stamp specializes in AI-powered identity solutions.