SolarMax Technology Announces 1-for-12 Reverse Split, Cuts Authorized Shares

What Happened

• SolarMax Technology, Inc. announced a one-for-twelve (1-for-12) reverse split of its common stock and filed a certificate of change with the Nevada Secretary of State. The board approved the actions on July 26, 2026, the certificate was filed on August 4, 2026, and the reverse split becomes effective at 12:01 AM Eastern time on August 13, 2026.

Key Details

• Reverse split ratio: 1-for-12 (each issued share becomes 1/12 of a share).
• Authorized shares reduced: from 297,225,000 to 24,768,750 common shares.
• Fractional shares: cash will be paid in lieu of fractional shares based on the closing price on the effective date.
• Other effects: par value remains $0.001 per share; trading symbol (SMXT) unchanged; exercise/conversion prices and share issuable counts for outstanding warrants, options and convertible securities will be adjusted to reflect the reverse split.

Why It Matters

• The reverse split reduces the number of outstanding shares on a per-share basis and typically increases the market price per share proportionally; investors will hold fewer shares with a higher per-share price after the split.
• Fractional-share holders will receive cash for fractions rather than fractional stock, affecting small holdings.
• Adjustments to warrants, options and convertible securities preserve their economic terms but change exercise prices and share counts, which can affect holders of those instruments.
• The filing is an amendment to the company’s certificate of incorporation (certificate of change) and is now effective on the stated date, so investors should expect the share count and quoting price to reflect the split on or after Aug 13, 2026.