secwatch.observer — SEC 8-K summary
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Issuer:     Snail, Inc. (SNAL)
CIK:        0001886894
Form:       8-K
Filed at:   2026-07-02T20:30:32+00:00
Accession:  0001493152-26-031916
Event type: regulatory
Sentiment:  negative
Materiality: 0.80
Item codes: 3.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Snail receives Nasdaq delisting notice; announces 1-for-5 reverse stock split to regain compliance
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- Nasdaq notified Snail of delisting due to failure to meet minimum bid price ($1.00) and continued listing standards (equity/market value/net income).
- Company intends to request a hearing before Nasdaq Hearings Panel to appeal the delisting determination.
- Board approved 1-for-5 reverse stock split effective July 2, 2026; trading on split-adjusted basis begins July 6, 2026.
- Reverse split reduces outstanding shares from ~44.2M to ~8.8M; no change to authorized shares or ownership percentages except fractional shares.
- Reverse split intended to help regain compliance with minimum bid price requirement, but no assurance of success.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1886894/000149315226031916/0001493152-26-031916-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1886894/000149315226031916/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-031916

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