Fitell Corporation Announces Share Consolidation
Fitell Corporation (Nasdaq: FTEL), an Australian online retailer of gym and fitness equipment, has announced a 1-for-16 share consolidation effective September 23, 2025. The consolidation will adjust the par value from $0.0001 to $0.0016 per share.
The move aims to ensure FTEL meets Nasdaq Capital Market's minimum bid price requirement for continued listing. The consolidation, approved by shareholders on April 9, 2025, will automatically convert every 16 shares into one share, with fractional shares rounded up. The stock will continue trading under "FTEL" with a new CUSIP number G35150138.
Fitell Corporation (Nasdaq: FTEL), un rivenditore online australiano di attrezzature per palestra e fitness, ha annunciato una consolidazione azionaria 1-for-16 che entrerà in vigore il 23 settembre 2025. La consolidazione adeguerà il valore nominale da $0,0001 a $0,0016 per azione.
La misura mira a garantire che FTEL rispetti il requisito minimo di prezzo di offerta del Nasdaq Capital Market per mantenere la quotazione. La consolidazione, approvata dagli azionisti l'9 aprile 2025, trasformerà automaticamente 16 azioni in una azione, arrotondando all'unità le azioni frazionarie. Le azioni continueranno a essere negoziate con ticker "FTEL" e avranno un nuovo numero CUSIP G35150138.
Fitell Corporation (Nasdaq: FTEL), un minorista en línea australiano de equipos de gimnasio y fitness, ha anunciado una consolidación de acciones 1 por 16 que entrará en vigor el 23 de septiembre de 2025. La consolidación ajustará el valor nominal de $0.0001 a $0.0016 por acción.
La medida tiene como objetivo asegurar que FTEL cumpla con el requisito de precio de oferta mínimo del Nasdaq Capital Market para mantener la cotización. La consolidación, aprobada por los accionistas el 9 de abril de 2025, convertirá automáticamente cada 16 acciones en una, redondeando las fracciones hacia arriba. Las acciones seguirán cotizando bajo el símbolo "FTEL" con un nuevo número CUSIP G35150138.
Fitell Corporation (Nasdaq: FTEL), 호주 온라인 체육 및 피트니스 용품 소매업체가 1대 16 주식 병합을 2025년 9월 23일부터 시행한다고 발표했습니다. 이 병합은 주당 액면가를 0.0001달러에서 0.0016달러로 조정합니다.
이 조치는 FTEL이 나스닥 캐피탈 마켓의 상장 유지 요건인 최저 호가 요건을 충족하도록 하기 위한 것입니다. 2025년 4월 9일 주주들의 승인으로 이루어진 이 병합은 자동으로 각 16주를 1주로 전환하며, 소수주는 반올림합니다. 주식은 여전히 "FTEL"로 거래되며 새 CUSIP 번호는 G35150138입니다.
Fitell Corporation (Nasdaq: FTEL), un détaillant en ligne australien d'équipements de gym et de fitness, a annoncé une consolidation d'actions de 1 pour 16 effective le 23 septembre 2025. Cette consolidation ajustera la valeur nominale de 0,0001 $ à 0,0016 $ par action.
Cette opération vise à assurer que FTEL respecte l'exigence de prix d'offre minimale du Nasdaq Capital Market pour le maintien de sa cotation. La consolidation, approuvée par les actionnaires le 9 avril 2025, convertira automatiquement 16 actions en une seule action, les fractions étant arrondies à l'unité. Les actions continueront d'être négociées sous le symbole « FTEL » avec un nouveau numéro CUSIP G35150138.
Fitell Corporation (Nasdaq: FTEL), ein australischer Online-Händler für Fitness- und Trainingsgeräte, hat eine 1-zu-16-Aktienzusammenlegung angekündigt, die am 23. September 2025 wirksam wird. Die Zusammenlegung wird den Nennwert von $0,0001 auf $0,0016 pro Aktie erhöhen.
Ziel ist es sicherzustellen, dass FTEL die Mindestkursanforderung des Nasdaq Capital Market für eine fortgesetzte Notierung erfüllt. Die Zusammenlegung, von den Aktionären am 9. April 2025 genehmigt, wandelt automatisch jeweils 16 Aktien in eine Aktie um, Bruchteile werden aufgerundet. Die Aktie wird weiterhin unter dem Symbol „FTEL“ gehandelt und erhält eine neue CUSIP-Nummer G35150138.
Fitell Corporation (Nasdaq: FTEL)، بائع تجزئة عبر الإنترنت للأجهزة الرياضية في أستراليا، أعلنت عن دمج أسهم بمعدل 1 مقابل 16 وسيصبح ساري المفعول اعتباراً من 23 سبتمبر 2025. سيضبط الدمج القيمة الاسمية من 0.0001 دولار إلى 0.0016 دولار للسهم.
يهدف الإجراء إلى ضمان امتثال FTEL لمتطلب سعر العرض الأدنى لسوق Nasdaq Capital من أجل الاستمرار في الإدراج. الدمج، الذي وافق عليه المساهمون في 9 أبريل 2025، سيحوّل تلقائياً كل 16 سهماً إلى سهم واحد، مع تقريب الأسهم الكسرية إلى الأعلى. ستستمر الأسهم في التداول تحت الرمز “FTEL” مع رقم CUSIP جديد هو G35150138.
Fitell公司（纳斯达克：FTEL），一家澳大利亚在线健身器材零售商，宣布自2025年9月23日起执行<1换16的股票合并。此次合并将股面值从0.0001美元调整为0.0016美元。
此举旨在确保FTEL符合纳斯达克资本市场的最低要价要求以维持上市。该合并经股东于2025年4月9日批准，将自动把每16股合并为1股，零股将向上舍入。股票将继续以“FTEL”交易，新的CUSIP号码为G35150138。
- Share consolidation helps maintain Nasdaq listing compliance
- No shareholder action required for those holding shares in electronic form
- Fractional shares will be rounded up to benefit shareholders
- Indicates company's stock price has fallen below Nasdaq requirements
- Reduced float could potentially impact stock liquidity
Insights
Fitell's 1-for-16 share consolidation aims to maintain Nasdaq listing by boosting share price, but signals underlying price weakness.
Fitell Corporation's announced 1-for-16 share consolidation is a defensive financial maneuver to maintain Nasdaq Capital Market listing by artificially increasing its share price. This technical adjustment, effective September 23, will convert every 16 shares into one, with no change to the company's underlying market capitalization or business fundamentals.
The explicit purpose - ensuring compliance with Nasdaq's minimum bid price requirement - strongly suggests Fitell's shares have fallen below or dangerously close to the $1 minimum threshold that exchanges require for continued listing. This reactive measure addresses a symptom (low share price) rather than underlying causes, which typically include sustained business underperformance or market skepticism about future prospects.
While share consolidations don't directly impact company value, they often carry negative signaling effects. Market participants frequently interpret them as acknowledgments of distress, especially when explicitly tied to listing compliance rather than strategic objectives. For existing shareholders, while the consolidation appears mathematically neutral (fewer shares at higher price), historical market patterns show these events frequently lead to additional selling pressure and further price deterioration.
The administrative mechanics appear straightforward, with automatic adjustments for brokerage accounts and provisions for fractional shares, but investors should monitor post-consolidation trading patterns carefully, as these restructurings often coincide with elevated volatility and potential value deterioration rather than stabilization.
TAREN POINT, Australia, Sept. 18, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (Nasdaq: FTEL) (the “Company”), an online retailer of gym and fitness equipment in Australia, today announced that it will effect a share consolidation of its ordinary shares, par value of
The Share Consolidation is being implemented to ensure the Company meets the minimum bid price requirement for continued listing on The Nasdaq Capital Market, its current exchange. The Share Consolidation was approved by the Company’s shareholders at the Extraordinary General Meeting of Members on April 9, 2025. Subsequently, the Board of Directors fix the effective date of the Share Consolidation as on or about September 23, 2025, on September 4, 2025.
As a result of the Share Consolidation, every sixteen (16) shares of the Company’s ordinary shares will be automatically consolidated into one ordinary share. Outstanding warrants and other outstanding equity rights will be proportionately adjusted to reflect the Share Consolidation. No fractional shares will be issued in connection with the Share Consolidation, and in the event that a shareholder would otherwise be entitled to receive a fractional share upon the Share Consolidation, the number of Shares to be received by such shareholder will be rounded up to one ordinary share in lieu of the fractional share that would have resulted from the Share Consolidation. Shareholders who are holding their shares in electronic form at brokerage firms do not need to take any action, as the effect of the Share Consolidation will automatically be reflected in their brokerage accounts.
The Company’s transfer agent, Vstock Transfer LLC, which is also acting as the exchange agent for the Share Consolidation, will send instructions to shareholders of record who hold stock certificates regarding the exchange of their old certificates for new certificates, should they wish to do so. Shareholders who hold their shares in brokerage accounts or “street name” are not required to take action to implement the exchange of their shares.
About Fitell Corporation
Fitell Corporation, through GD Wellness Pty Ltd (“GD”), its wholly owned subsidiary, is an online retailer of gym and fitness equipment both under its proprietary brands and other brand names in Australia. The company’s mission is to build an ecosystem with a whole fitness and wellness experience powered by technology to our customers. GD has served over 100,000 customers with large portions of sales from repeat customers over the years. The Company’s brand portfolio can be categorized into three proprietary brands under its Gym Direct brand: Muscle Motion, Rapid Motion, and FleetX, in over 2,000 stock-keeping units (SKUs). For additional information, please visit the Company’s website at www.fitellcorp.com.
Forward-Looking Statements
This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events and include, but are not limited to, statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering, and the intended use of proceeds from the offering. These forward-looking statements involve known and unknown risks and uncertainties, including market and other conditions, and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For more information, please contact:
Chief Financial Officer
Edwin Tam
edwin@gymdirect.com.au
Investor Relations
ir@fitellcorp.com
FAQ
What is the FTEL stock consolidation ratio and when is it effective?
Why is Fitell Corporation (FTEL) doing a share consolidation?
Will FTEL shareholders need to take any action for the share consolidation?
What happens to fractional shares in the FTEL share consolidation?
Will Fitell's stock symbol change after the consolidation?
