Inspire Veterinary Partners Announces 1-for-100 Reverse Stock Split

Inspire Veterinary Partners, Inc., a provider of pet health care services in the U.S., declared a 1-for-100 reverse stock split of its Class A common stock, effective May 8, 2024. This move will reclassify every 100 shares of existing common stock into one new share, with the total authorized shares reduced from 100 million to 1 million. Adjustments will be made to equity awards, warrants, convertible notes, and stock incentive plans.

The reverse split aims to meet Nasdaq’s $1.00 minimum bid price requirement to maintain its listing, though there is no certainty the minimum bid will be achieved. This action received approval from the board on May 15, 2024, and due to Nevada law, shareholder approval was not needed for this adjustment.

Post-split, Inspire's common stock will continue trading on The Nasdaq Capital Market under the symbol "IVP", starting split-adjusted trading on the effective date. The new CUSIP number post-split will be 45784E 205.