IM Cannabis Corp. announced a 30-for-1 reverse stock consolidation to support compliance with Nasdaq’s $1.00 minimum bid price requirement. The Board approved the consolidation, expecting an effective date of August 27, 2026, though it may occur on or before September 15, 2026. Post-consolidation, outstanding shares are expected to decrease from approximately 18.1 million to roughly 603,922. Fractional shares will be rounded up if equal to or greater than one-half; otherwise, they will be cancelled. Convertible securities will see proportionate adjustments to exercise and conversion prices. The company has until October 6, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. IM Cannabis Corp. operates in the medical cannabis industry, importing and distributing cannabis products to patients in Israel and Germany.
