--- title: "Enveric corrects reverse split maximum in proxy materials to 1-for-15" url: "https://aibio.space/news/enveric-corrects-reverse-split-maximum-proxy-materials-1-15/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-04-30" section: "Listings" tickers: "NASDAQ:ENVB" source: "https://www.sec.gov/Archives/edgar/data/890821/000149315226020410/ex99-1.htm" summary: "A proxy supplement corrects a typographical error that showed a 1-for-50 maximum on the proxy card and notice before the May 28, 2026 annual meeting." --- By the aibio.space news desk. Sources - [Enveric Biosciences proxy supplement](https://www.sec.gov/Archives/edgar/data/890821/000149315226020410/ex99-1.htm) - [Enveric Biosciences, Inc. 10-K (2026-03-27): business](https://www.sec.gov/Archives/edgar/data/890821/000149315226013294/form10-k.htm) - [Enveric Biosciences, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/890821/000149315226013294/) [ENVB](https://aibio.space/companies/enveric-biosciences/) 2026-04-30 # Enveric corrects reverse split maximum in proxy materials to 1-for-15 Tickers [ENVB](https://aibio.space/companies/enveric-biosciences/) A proxy supplement corrects a typographical error that showed a 1-for-50 maximum on the proxy card and notice before the May 28, 2026 annual meeting. ## Key facts - **Company**: Enveric Biosciences, Inc. (NASDAQ: ENVB) - **News type**: Listings - **Primary source**: [Enveric Biosciences proxy supplement](https://www.sec.gov/Archives/edgar/data/890821/000149315226020410/ex99-1.htm) *The Capitol dome and spring blossom. Photo: Angie Drake, CC0, via Wordpress. The picture shows the field, not the companies named.* Enveric Biosciences, Inc. has filed additional proxy materials to correct a typographical error in its proxy statement for the 2026 Annual Meeting of Stockholders. The error concerned the maximum ratio of a proposed reverse stock split. The company says the correct maximum is 1-for-15, not the 1-for-50 that appeared on the proxy card and the notice of internet availability mailed to stockholders. The correction was sent to stockholders in a letter dated April 30, 2026. ## The error and the correction The company's definitive proxy statement, dated April 14, 2026, asked stockholders to extend the Board of Directors' approval to amend the company's charter to effect a reverse stock split at a ratio of 1-for-5 to 1-for-15. The ratio within that range is to be set by the Board and included in a public announcement. The company says the text of that proposal in the proxy statement, starting on page 34, correctly stated 1-for-15. However, the proxy card and the notice of internet availability showed the maximum ratio as 1-for-50 in two places. The supplement replaces every reference to 1-for-50 with 1-for-15 and reproduces the revised proxy card and notice in full. The supplement says it is to be read together with the original proxy statement and does not change any other information in that statement. ## Meeting details The letter says the correction does not change the meeting date, time or location. The meeting is set for Thursday, May 28, 2026, at 10:00 a.m. Eastern Time, and is held online. Stockholders are asked to enter the 16-digit control number from their proxy card or voting instruction form. The letter encourages stockholders to review the enclosed materials carefully before voting. Stockholders who have already voted may change their vote by following the instructions in the proxy materials. The letter names Kingsdale Advisors as the proxy solicitor for questions. ## The proposal The reverse split proposal is Proposal 3 in the proxy statement. Under the proposal, the Board would decide, at its discretion, whether to effect a reverse split of the issued and outstanding common stock, including shares held as treasury shares. The proposal does not set a date for any split, and the supplement changes only the maximum ratio in the range. ## Background on the company The company's annual report on Form 10-K, filed March 27, 2026, describes Enveric as a biotechnology company focused on developing next-generation, small-molecule neuroplastogenic therapeutics for psychiatric and neurological disorders. Its lead candidate, EB-003, is described in that report as the first known compound designed to selectively engage both 5-HT 2A and 5-HT 1B receptors. The company was incorporated in Delaware in February 1994 as Spatializer Audio Laboratories, Inc. It changed its name to Enveric Biosciences, Inc. after a tender offer for Jay Pharma Inc. completed on December 30, 2020. Its principal corporate office is at 245 First Street, Riverview II, 18th Floor, Cambridge, MA 02142. ## Recent financial data The XBRL data that accompanies the company's filings states the following figures from the annual report. For the fiscal year ended December 31, 2025, research and development expense was $2.8 million, net income (loss) was negative $8.8 million, and cash from operations was negative $8.1 million. For the fiscal year ended December 31, 2024, research and development expense was $2.8 million, net income (loss) was negative $9.6 million, and cash from operations was negative $7.7 million. ## The risks ahead The supplement sets no date for a reverse split and does not say which ratio between 1-for-5 and 1-for-15 the Board would choose. The ratio is to be announced publicly. A split is a step companies take to manage the share price, and this filing gives no reason for the proposal. Proxy errors can also confuse a vote, which is why the company sent a corrected card and notice. The filings show a net loss of $8.8 million and cash from operations of negative $8.1 million for 2025, so the company still has to fund EB-003 through preclinical work toward first-in-human studies. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story ENVB Enveric Biosciences, Inc. NASDAQ ยท United States Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/enveric-corrects-reverse-split-maximum-proxy-materials-1-15/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Enveric corrects reverse split maximum in proxy materials to 1-for-15", 2026-04-30, https://aibio.space/news/enveric-corrects-reverse-split-maximum-proxy-materials-1-15/