Corvex completes 1-for-10 reverse split, converts preferred stock into 4.8M shares

Filed July 7, 2026 · Period ending July 1, 2026 · ~1 min read

Key Changes

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  Completed 1-for-10 reverse stock split on July 1, reducing outstanding shares from ~28.5M to ~2.85M. All equity awards proportionately adjusted; fractional shares paid in cash.

  Item 8.01 verify on EDGAR →
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  Following shareholder approval, all Series C Preferred converted to common stock and Series D holders converted shares representing 4,752,244 common shares (post-split basis). Company now has 27,635,745 common shares outstanding with remaining Series D convertible into another 28,929,592 shares.

  Item 5.07 verify on EDGAR →
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  Appointed Seth Demsey as co-CEO alongside Jay Crystal, effective July 1. Demsey co-founded Corvex OpCo in 2024 and brings nearly three decades of AI/ML and developer platform experience.

  Item 5.02 verify on EDGAR →