SolarMax Technology Announces 1-for-12 Reverse Stock Split; Reduces Authorized Shares

What Happened SolarMax Technology, Inc. (SMXT) filed an 8-K on August 11, 2026 reporting a previously announced one-for-12 reverse split of its common stock and a reduction in the number of authorized common shares. The company reduced its authorized common stock from 297,225,000 shares to 24,768,750 shares and furnished a press release dated August 11, 2026 as Exhibit 99.1.

Key Details

• Item reported: 5.03 (Amendments to Articles of Incorporation or Bylaws).
• Reverse split ratio: 1-for-12 (previously announced).
• Authorized common shares reduced from 297,225,000 to 24,768,750.
• Press release dated August 11, 2026 furnished as Exhibit 99.1 (Item 9.01).

Why It Matters A one-for-12 reverse split consolidates outstanding shares and will proportionally increase the per-share price while reducing the number of shares outstanding. The reduction in authorized shares limits the total number of common shares the company can issue without further amendment. Investors should note this corporate action changes share structure; any effects on market price, liquidity, or future financing depend on market reaction and additional company actions.