GlobalTech Corp Announces 1-for-3 Reverse Stock Split Effective Aug 27, 2026

What Happened

• GlobalTech Corporation (GLTK) filed an 8-K reporting that its board approved and implemented a 1-for-3 reverse stock split, effective August 27, 2026 at 12:01 a.m. Pacific Time, following shareholder approval on December 29, 2025. The company filed Articles of Amendment with the Nevada Secretary of State on August 24, 2026 and issued a press release on August 25, 2026.
• The split converts every three shares of common stock into one share, reducing outstanding shares from approximately 152 million to approximately 50 million. The company applied for a Nasdaq listing and says the reverse split is intended to help meet Nasdaq’s minimum bid price/initial listing requirements.

Key Details

• Reverse split ratio: 1-for-3 (board-authorized range was 1-for-2 to 1-for-10). Effective: Aug 27, 2026 at 12:01 a.m. PT.
• Post-split trading: Expected to trade on the OTCQB on a post-split basis on or around Aug 27, 2026; temporary ticker GLTKD for 20 trading days, then reverts to GLTK. New CUSIP: 37892L205.
• Shares outstanding: ~152 million pre-split → ~50 million post-split; authorized shares unchanged (so available unissued shares increase proportionally).
• Other adjustments: Options, warrants, equity awards and preferred conversion rates will be adjusted proportionately (exercise prices increased inversely). No fractional shares will be issued—holders entitled to fractions will receive one whole share in lieu of fractional shares. Transfer agent/exchange agent: Standard Registrar and Transfer Company.

Why It Matters

• For investors, the reverse stock split is a corporate action that increases the per-share price by reducing share count but does not materially change each shareholder’s percentage ownership or voting power (aside from minor rounding effects). The stated purpose is to improve eligibility for a Nasdaq uplisting; however, the company has not been approved by Nasdaq and says it may still not meet Nasdaq listing standards. Expect adjusted share counts, new CUSIP, and temporary ticker behavior in trading systems around the effective date.