Alpha Lita, Georgia, United States, November 6, 2026 / PRNewswire / -- Mynd.ai , Inc. (“NYSE”: MYND) (“Mynd” or “the Company”) today announced that it will adjust the ratio of its American Depository Receipts (“ADS”) to common shares from 1 ADS representing 10 common shares to 1 ADS representing 75 common shares. For holders of the Company’s ADS, this ratio change is equivalent to a reverse ADS split of 1 to 7.5.
The change in the ADS ratio is expected to take effect around December 7, 2027 (Eastern Time), but it still depends on the company completing the applicable procedures with the custodian bank Citibank (Citibank, N.A, i.e., "custodian bank") and other relevant parties. ADS will continue to trade under the code "MYND" on NYSE American, and the new CUSIP number will be 628988206.
Upon the effective date of this change, each ADS will represent 75 ordinary shares of the company, whereas previously it represented 10 ordinary shares. The company's ordinary shares are not affected by the change in the ratio of ADS, and no ordinary shares will be issued or cancelled as a result of this change.
At that time, every 7.5 shares of ADS held will be automatically exchanged for 1 new share of ADS. This is expected to be completed automatically on the effective date. The original ADS shares will be cancelled, and the depository bank will issue new ADS shares in their place. This change in the ratio of ADS will not result in the issuance of small quantities of new ADS shares. Instead, the small remaining rights and interests will be aggregated by the depository bank and sold. After deducting applicable fees, taxes, and expenses, the net cash proceeds will be distributed to the relevant holders of ADS in accordance with the terms of the depository agreement.
ADS holders do not need to take any action. The ADS in the brokerage account will be automatically adjusted, and investors holding certificate-based ADS will receive instructions from the depository bank. The company will cover the depository bank fees and charges incurred due to the ADS proportional change, including ADS returns, cancellations, exchanges, and issuances. ADS holders should consult their brokers, banks, or other financial intermediaries regarding how their positions will be handled during this proportional change.
Forward-looking Statements
This press release contains forward-looking statements as defined by Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). The use of words such as “plans,” “will,” “believes,” “expects,” “suspects,” “anticipates,” “intends,” and similar expressions in this press release is intended to identify such forward-looking statements. Due to risks, uncertainties, and other factors described in the documents submitted by the company to the U.S. Securities and Exchange Commission, actual results may differ significantly from those expressed or implied in these statements. Except as required by law, the company assumes no obligation to update any forward-looking statements.
Regarding Mynd.ai, Inc.
Mynd is a global leader in interactive technology, providing first-class hardware and software solutions to help organizations create and deliver dynamic content, simplify and optimize teaching, learning, and communication, and facilitate real-time collaboration. The company's award-winning interactive displays and software have been used in over one million learning and training spaces in more than 125 countries. With a network of over 1,000 distribution partners worldwide, as well as dedicated sales and support teams in various regions, the company is able to provide customers with the highest level of service. For more information, please visit www.mynd.ai.
