Wellgistics Health Announces Reverse Stock Split

TAMPA, FL / ACCESS Newswire / May 20, 2026 / Wellgistics Health, Inc. (NASDAQ:WGRX) ("Wellgistics" or the "Company"), a health information technology leader, integrating proprietary pharmacy dispensing optimization artificial intelligence (AI) platform EinsteinRx into its patented blockchain-enabled smart contracts platform PharmacyChain, today announced that its board of directors approved the Company's 1-for-50 reverse stock split (the "Reverse Split") of the Company's common stock, par value $0.00001 per share (the "Common Stock"). The Reverse Split was approved by a majority of the stockholders of the Company on April 2, 2026. Post-split, the common stock security will trade under a new CUSIP number.

The Reverse Split will legally take effect at 12:01 a.m. Eastern Time, on May 26, 2026. The Reverse Split is intended to increase the per share trading price of the Common Stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.

The 1-for-50 Reverse Split will automatically convert every 50 current shares of the Company's Common Stock into one share of Common Stock. No fractional shares will be issued in connection with the Reverse Split. Any fractional share of Common Stock that would otherwise result from the Reverse Split will be rounded up to the nearest whole share.

The Reverse Split will reduce the number of shares of outstanding Common Stock from approximately 125,671,251 to approximately 2,513,425 shares of Common Stock. The total authorized number of shares will not be reduced. Proportional adjustments will also be made to the exercise and conversion prices of the Company's outstanding stock options, warrants, and convertible securities, and to the number of shares issued and issuable under the Company's stock incentive plans.

Stockholders holding their shares electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker, or other nominee will have their positions automatically adjusted to reflect the Reverse Split, subject to brokers' particular processes, and will not be required to take any action in connection with the Reverse Split.

Additional information regarding the Reverse Split is available in the Company's definitive information statement originally filed with the U.S. Securities and Exchange Commission (SEC) on April 3, 2026.

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