GlobalTech To Implement 1-For-3 Reverse Stock Split

(RTTNews) - Tuesday, GlobalTech Corporation (GLTK.PK) announced its plan to implement a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-3, effective August 27, 2026.

Under this, every 3 shares of the company's common stock issued and outstanding as of the effective date will be converted into one share of the company's common stock.

The Board believes this move will likely be necessary to obtain a listing of the company's common stock on the Nasdaq Capital Market.

Following the reverse stock split, the number of shares of the company's outstanding common stock will change from approximately 152 million shares to approximately 50 million shares.

GlobalTech's stock closed trading at $1.2810, up 2.48 percent on the OTC Markets.