Key Highlights

  • OneMedNet's 1-for-10 Reverse Stock Split became effective on September 29, 2026, after stockholder approval on September 18.
  • Every ten shares of common stock were combined into one, with authorized shares and Par Value unchanged.
  • Fractional shares are rounded up to the nearest whole share, and Equity awards and warrants are adjusted proportionately.
  • The split is intended to meet Nasdaq Capital Market's minimum $1.00 bid price requirement for continued listing.

OneMedNet Corporation (NASDAQ:ONMD) reported in a Form 8-K filed on September 29, 2026 that a 1-for-10 reverse stock split of its common stock became effective at 12:01 a.m. Eastern Time on September 29, 2026. Stockholders had approved the action on September 18, 2026.

The company is a Delaware corporation and an emerging growth company, and the earliest event reported is dated September 26, 2026. The company's shares continue to trade on the Nasdaq Capital Market under the symbol ONMD, now under a new CUSIP number, 68270C 202.

Terms of the Split

According to the filing, every ten shares of common stock were combined into one share. The company filed a certificate of amendment to its Third Amended and Restated Certificate of Incorporation with the Delaware Secretary of State on September 26, 2026, filed as Exhibit 3.1. The reverse split does not change the authorized number of shares or the par value. The filing says the number of shares outstanding falls from approximately 60,125,902 to approximately 6,012,591.

On fractions, the filing says any fractional shares resulting from the reverse split will be rounded up to the nearest whole share, rather than paid out in cash. As an illustration of that rule, a holder of 15 pre-split shares would hold 1.5 shares after a one-for-ten combination, which would be rounded up to two whole shares. The filing adds that proportionate adjustments will be made to all outstanding equity awards, warrants and convertible securities.

The Stated Purpose

The 8-K states that the reverse split is intended to bring the company into compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market. Nasdaq's rules generally require a Listed security to maintain a minimum bid price of $1.00 per share. Whether the split achieves compliance depends on later trading, and the filing makes no prediction on that point.

The Press Release

A press release dated September 25, 2026, filed as Exhibit 99.1, says Continental Stock Transfer & Trust Company is the exchange and transfer agent and that the shares are expected to begin trading on a split-adjusted basis when the markets open on September 29, 2026. The release gives the pre-split and post-split share counts as approximately 59.3 million and approximately 5.9 million, slightly different from the 60,125,902 and 6,012,591 given in the 8-K.

The release describes OneMedNet as operating the iRWD platform, which delivers AI-ready medical datasets with de-identified imaging and clinical records for life sciences companies and AI developers. It cites a network of more than 2,300 sites, encompassing 90 million patient journeys and 270 million studies. The release lists Michael Wong, VP Marketing, as the contact. The company is based in Eden Prairie, Minnesota, and the 8-K is signed by Aaron Green, Chief Executive Officer.

Whether OneMedNet's Split Meets the Nasdaq Bid Test

The 8-K reports the split as effective, so the principal open question is the one the company itself identifies: whether the shares meet Nasdaq's minimum bid price requirement going forward. Nasdaq's continued Listing Rules and any notices from the exchange would be disclosed by the company in later filings if they arise. Shareholders should also expect their brokerage statements to show the adjusted share counts, with fractional entitlements rounded up. Future periodic reports, including the next Form 10-Q, would present per-share data reflecting the one-for-ten combination.