Mawson Infrastructure Group Inc. (NASDAQ: MIGI) announced a 1‑for‑20 reverse stock split that will take effect at 5:00 p.m. Eastern on November 20, 2025. The split consolidates every 20 existing shares into one new share, with no fractional shares issued, and is designed to lift the per‑share price above Nasdaq’s $1.00 minimum bid requirement. The company’s securities will trade on the Nasdaq Capital Market under the symbol MIGI and will receive a new CUSIP of 57778N406 beginning the market open on November 21.
The reverse split is a regulatory action aimed at preventing delisting after Mawson received an extension to meet the minimum bid price deadline of December 4, 2025. The move signals that the company’s equity has been trading below the required threshold for an extended period, reflecting ongoing financial distress and the need to maintain its public listing.
Financial performance underscores the urgency of the split. In the third quarter of 2025, earnings fell to $327.7 k, a 104.1% decline from the prior quarter, and the fiscal year 2024 ended with a loss of $46.1 M. Cash burn remains high and the company carries significant debt, placing additional pressure on its balance sheet and limiting its ability to meet Nasdaq’s listing requirements without further capital infusions.
Investors reacted negatively to the announcement, interpreting the reverse split as a cosmetic measure rather than a substantive turnaround. The move highlights concerns about the company’s ability to sustain operations and meet listing requirements without additional capital.
Management emphasized continued cost discipline and strategic investments in high‑return verticals such as AI, high‑performance computing, and digital asset infrastructure. Despite these efforts, the company acknowledges that the reverse split does not address underlying liquidity challenges and that additional measures may be necessary to restore confidence.
The reverse split will increase the per‑share price but does not alter the company’s capital structure or debt obligations. Without a clear path to profitability, the company risks further regulatory scrutiny and potential delisting, underscoring the urgency of a comprehensive turnaround strategy.
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