Olenox Industries to Execute Reverse Stock Split to Regain Nasdaq Compliance

Olenox Industries (NASDAQ: OLOX) announced it will effect a 1-for-10 reverse stock split of its common stock, effective May 8, 2026, at 12:01 a.m. Eastern time. The move is designed to increase the company's share price to meet Nasdaq's $1.00 minimum bid requirement, a condition for continued listing on the exchange. Shares are expected to begin trading on a split-adjusted basis the same day under the existing symbol.

The reverse stock split will reduce the number of outstanding shares from approximately 10.2 million to about 1.2 million. Stockholders' ownership percentages will remain unchanged, aside from rounding adjustments for fractional shares. The company noted that the split is intended to address the bid price deficiency and maintain its listing on the Nasdaq Capital Market.

This announcement comes as Olenox Industries continues to position itself as a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The company is focused on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets.

The reverse stock split is a common strategy for companies whose stock price has fallen below exchange listing standards. By reducing the number of shares outstanding, the company aims to increase the per-share price, which can help attract institutional investors and improve the stock's marketability. However, reverse splits can also be perceived as a sign of financial distress, and the long-term impact on shareholder value depends on the company's operational performance.

For more information, the full press release is available at https://ibn.fm/M1UDT. Additional news and updates regarding Olenox Industries are available in the company's newsroom at https://ibn.fm/OLOX.