TILE SHOP HOLDINGS, INC. 8-K

What Happened
Tile Shop Holdings, Inc. (TTSH) filed an 8-K (Dec 29, 2025) reporting that on December 15, 2025 the company effected a 1-for-3,000 reverse stock split of its common stock (par value $0.0001). Shareholders who owned fewer than 3,000 shares immediately before the split (the “Cashed-Out Stockholders”) became entitled to receive $6.60 in cash, without interest, for each whole share they held at the effective time. The company expects to pay approximately $32.0 million in aggregate to the Cashed-Out Stockholders, including those holding through banks and brokers.

Key Details

• Reverse split effective date: December 15, 2025.
• Exchange ratio: 1-for-3,000 reverse split of common stock (par $0.0001).
• Cash-out amount: $6.60 per whole share for stockholders holding fewer than 3,000 pre-split shares.
• Estimated aggregate payment to cashed-out holders: approximately $32.0 million (company’s expectation).

Why It Matters
This action eliminates very small holdings by converting them to a cash payment instead of fractional post-split shares, which reduces the number of outstanding shareholders and simplifies the shareholder base. The estimated $32.0 million cash payout is material to affected retail holders who owned small positions prior to the split. The filing also notes the payment amount is a forward-looking estimate and subject to the risks described in the 8-K.