SolarMax announces 1-for-12 reverse split effective Aug 13 to meet Nasdaq bid price rule

SolarMax Technology, Inc.

Reverse split 1-for-12 effective 12:01 a.m. ET Aug 13, 2026; new CUSIP 83419H202.
Authorized shares cut from 297,225,000 to 24,768,750; outstanding shares fall from 56,906,572 to ~4,742,215.
Company received Nasdaq bid price deficiency notice on Mar 3, 2026; compliance period expires Aug 31, 2026.
Also received Nasdaq notice Jun 22, 2026 for market value of listed securities below $35M; period expires Dec 21, 2026.
Reverse split does not address market value requirement; cash paid for fractional shares.

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