Hexagon Purus ASA (OTC: HPURF) Announces 1-for-10 Reverse Stock Split for Zero-Emission Mobility Solutions

Font: Financial Modeling Prep  • May 15, 2026

• Hexagon Purus ASA will execute a 1-for-10 reverse stock split on May 18, 2026, impacting its outstanding shares.
• This corporate action consolidates existing shares into fewer, higher-priced shares without altering the total value of an investor's holdings.
• Shareholders with non-divisible holdings will have their shares rounded down, with no compensation for fractional shares, as proceeds from their sale will be retained by the company.

Hexagon Purus ASA (OTC: HPURF) is a leading company in the clean energy sector, specializing in the provision of hydrogen high-pressure cylinders, battery packs, and advanced systems for fuel cell and battery electric vehicles. This innovator is dedicated to zero-emission mobility solutions, playing a crucial role in the storage and distribution of clean fuels such as hydrogen.

On May 18, 2026, Hexagon Purus ASA will undergo a 1-for-10 reverse stock split. This significant corporate event means shareholders will receive one new share for every ten shares they currently own. A reverse stock split is a strategic move that consolidates the number of existing shares into fewer, higher-priced shares, though it's important to note that this action does not change the total value of an investor's holdings in the company.

As highlighted by GlobeNewswire, the last day for shares to trade with the right to participate in this share consolidation is May 15, 2026. The ex-date for the split is May 18, 2026, marking when the stock will begin trading at its new split-adjusted price. The record date, which determines eligibility for the new shares, is set for May 19, 2026.

To facilitate this reverse split, Hexagon Purus ASA adjusted its capital to ensure the total number of shares is divisible by 10. This adjustment resulted in a new share capital of NOK 42.80 million, divided into approximately 428.5 million shares. The process included issuing two new shares to the company's CEO as part of the capital adjustment.

Shareholders whose holdings are not perfectly divisible by ten will have their shares rounded down. Hexagon Purus ASA will not issue or provide compensation for any fractional shares resulting from the split. Instead, these fractional amounts will be aggregated and subsequently sold, with the proceeds from these sales being retained by the company.