LataMed AI Corp. (OTC: LMED) provided shareholders with an update regarding the implementation of its previously announced 5-for-1 forward stock split and the related mandatory share exchange process. As of July 7, 2026, the Company has provided FINRA with all requested information and documentation, and management anticipates that the corporate action may become effective within approximately the next week, subject to FINRA's review and final processing. The forward stock split will be implemented in conjunction with the assignment of a new CUSIP number, 21116R404, replacing the current CUSIP upon effectiveness.
The Company detailed how the mandatory exchange process will be administered for different types of shareholders. Shareholders holding shares through a brokerage account in 'street name' generally are not required to take any action, as brokerage firms and custodians are expected to process the exchange automatically. Registered book-entry shareholders with the Company's transfer agent also do not need to submit documentation; their accounts will be updated to reflect the post-split share balance and new CUSIP. Physical stock certificate holders are not required to immediately surrender their certificates, but existing certificates will represent the pre-exchange security. When a certificate is submitted for transfer, sale, or exchange, it will be processed under the mandatory exchange procedures, and the transfer agent will issue the appropriate number of post-split shares under the new CUSIP.
Dr. Kevin Rodan Levy, Chief Executive Officer, stated: 'We want to ensure that our shareholders clearly understand how the forward stock split and mandatory exchange process will be implemented. While the vast majority of shareholders are expected to have their shares updated automatically, we believe it is important to provide clear guidance for shareholders holding physical stock certificates.' He added that management intends to focus on advancing the Company's telemedicine platform and pursuing licensing and commercialization opportunities for its CardioAI, PulmoAI, and NeuroAI artificial intelligence platforms, which are important components of the long-term strategy to build an integrated digital healthcare ecosystem throughout Latin America.
Management believes the forward stock split supports the Company's continued corporate development and strategic initiatives while facilitating the new CUSIP and updated capital structure. The Company encourages shareholders with questions to contact their brokerage firm or the Company's transfer agent once detailed exchange instructions become available. For additional information, visit https://latamed.ai or review the Company's filings with the SEC at www.sec.gov.
