Business Context and Reporting Period
This Form 6-K filing by Freight Technologies, Inc. (FRGT) covers the month of May 2026. The report details a corporate action approved by the Board of Directors on April 27, 2026, regarding a reverse stock split intended to maintain the company's listing on the Nasdaq Capital Market.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on capital structure changes rather than operational financial performance.
Material Changes
- Reverse Stock Split: A one (1) for five (5) reverse split of ordinary shares was approved.
- Share Count Reduction: Outstanding ordinary shares will be reduced from 2,860,626 to 572,125.
- Trading Details: Shares will begin trading on a split-adjusted basis on May 18, 2026, under the symbol "FRGT" with a new CUSIP number (G51413162).
- Fractional Shares: No fractional shares will be issued. Holders with less than half a fractional share will have it cancelled; those with half or more will be rounded up to the next whole share.
Outlook, Risks, and Management Commentary
Purpose: The reverse split is intended to increase the per-share trading price to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq.
Authorized Shares: The total number of authorized ordinary shares remains unaffected by this action.
Administrative: Transhare Corporation will act as the exchange agent for the transaction.
Investor Verification Checklist
- Verify the effective trading date of the reverse split (May 18, 2026).
- Confirm the new CUSIP number (G51413162) with brokerage accounts.
- Check current shareholdings to determine if rounding up or cancellation of fractional shares applies.
- Monitor the stock price post-split to ensure it meets the $1.00 minimum bid price requirement.