NEXGEL: files amendment to effect 1-for-20 reverse stock split

What happened

• NEXGEL, INC. filed a Certificate of Amendment with the Delaware Secretary of State on Oct 7, 2026 to effect a 1-for-20 reverse stock split of its common stock.
• The company’s stockholders had approved Board authority at a special meeting on Sep 23, 2026 to effect a reverse split at a ratio between 1-for-2 and 1-for-20; the Board has determined to effect a 1-for-20 split.
• The reverse stock split will become effective at 12:01 a.m., Eastern Time, on Oct 12, 2026. At that time every twenty (20) shares issued and outstanding immediately prior to the Split Effective Time will be combined into one (1) share.

Key details

• Ratio: 1-for-20 reverse stock split.
• Effective date and time: 12:01 a.m., Eastern Time, on Oct 12, 2026.
• Par value: Common stock par value remains $0.001 per share; authorized shares unchanged.
• Fractional shares: No fractional shares will be issued; any fractional share resulting from the reverse split will be rounded up to the nearest whole share (no cash paid in lieu).
• Other securities: Proportional adjustments will be made to outstanding equity awards, convertible preferred stock, warrants and other convertible or exercisable securities and to their exercise, conversion or purchase prices, in accordance with their terms.
• Listing and CUSIP: Common stock will continue to be listed on The Nasdaq Capital Market under the symbol "NXGL" and will trade under new CUSIP number 65344E 206.

Why it may matter

• The filing reports Item 3.03 (Material modification to rights of security holders) and Item 5.03 (Amendments to articles of incorporation or bylaws). Item 3.03 covers changes to holders’ rights resulting from the reverse stock split; Item 5.03 covers the Certificate of Amendment filed to effect the reverse split. The filing does not show why the insider traded or why the company acted.