Novonix Limited announced a change to its American Depositary Share (ADS) ratio from one ADS representing four ordinary shares to one ADS representing forty ordinary shares. This adjustment functions as a one-for-ten reverse split of existing ADSs, with each ten existing ADSs exchanged for one new ADS. The change is intended to increase the per-ADS trading price and help regain compliance with Nasdaq's minimum bid price requirement following a notification on March 18, 2026, that the closing bid price had been below US$1.00 for thirty consecutive business days. The new ratio becomes effective on August 27, 2026. Novonix Limited operates in the battery materials industry, producing high-performance synthetic graphite anode materials for lithium-ion batteries used in electric vehicles and energy storage.
