Upland Reverse Split
Upland Software Announces 1-for-10 Reverse Stock Split for Nasdaq Compliance
Anonymous
Upland Software will execute a one-for-ten reverse stock split of its common shares, effective June 17, 2026 at 12:01 a.m. Eastern Time, so its stock can continue trading on the Nasdaq Global Market. The company said the move is primarily intended to restore compliance with Nasdaq’s minimum bid price requirement after the shares traded well below $1. Stockholder approval for a reverse split range of one-for-five to one-for-thirty was granted earlier, and the board selected the one-for-ten ratio; the company also noted that the reverse split will reduce shares outstanding from about 29.4 million to about 2.9 million and adjust options and other equity awards accordingly. Trading on a post-split basis is expected to begin on June 17 while the ticker remains UPLD, and the company will assign a new CUSIP number for the post-split shares. In trading, the announcement was met with a sharp market reaction, with the stock down about 5.5% in premarket activity ahead of the split date.
Key Points
1
Upland said it will not issue fractional shares. Instead, holders who would receive a fractional share will be paid cash equal to the fractional share multiplied by the average closing sales price during the five consecutive trading days immediately preceding the Delaware filing date for the reverse-split amendment.
2
The company clarified that the common stock’s par value will remain unchanged at $0.0001 per share, and the reverse split will not change the authorized number of shares of common or preferred stock.
3
Upland described the corporate step required for the split: stockholders approved on June 3 a proposal authorizing the board ("in its sole and absolute discretion") to file a Delaware certificate of amendment to effect the reverse split at a board-determined ratio within 1-for-5 to 1-for-30; the board approved 1-for-10 and filed the amendment.
4
An Investing.com report put the stock’s squeeze in context, noting Upland was trading around $0.83 (about down 56% over the past year) and near its 52-week low of $0.50—levels that helped drive the need to meet Nasdaq’s minimum bid requirement.
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