Golden Matrix Group, Inc. (NASDAQ: GMGI) has announced its board of directors approved a 1-for-12 reverse stock split of its common stock and a corporate name change to Meridian Holdings Inc. The changes are designed to ensure compliance with Nasdaq's minimum bid price requirements and to optimize the company's capital structure for future growth.
The reverse stock split and rebranding are scheduled to take effect on March 3, 2026, with shares expected to begin trading on the Nasdaq Capital Market under the new ticker symbol "MRDN" at that time. Chief Financial Officer Rich Christensen stated the move aligns the company with public company best practices and gaming industry standards, aiming to provide broader access to capital markets.
As a result of the reverse stock split, the number of issued and outstanding shares will decrease from approximately 151.7 million to about 12.6 million shares. The company will file necessary documentation with Nevada authorities to implement these changes, and proportionate adjustments will be made to outstanding equity awards, warrants, and other convertible securities.
Shareholders holding shares through brokerage accounts will have their positions automatically adjusted, while those with certificated shares should contact the transfer agent for instructions. The company plans to file a Current Report on Form 8-K with the Securities and Exchange Commission on March 3, 2026, which will be available on the SEC's website and in the investor section of the company's website at https://goldenmatrix.com/investor.
The strategic restructuring comes as the company continues to operate its B2B and B2C gaming technology platforms across international markets, including its MEXPLAY online casino in Mexico and the Meridianbet Group operations acquired in 2024. The reverse stock split represents a significant corporate action that could influence investor perception and market accessibility for the gaming technology firm.
