LataMed AI Corp. (OTC: LMED) provided shareholders with an update on the implementation of its previously announced 5-for-1 forward stock split and mandatory share exchange process. As of July 7, 2026, the Company has submitted all requested information to FINRA and anticipates the corporate action may become effective within approximately the next week, pending FINRA's review and final processing. The Company will issue a further update once FINRA establishes the official effective date.
The forward stock split will be implemented alongside the assignment of a new CUSIP number, 21116R404, replacing the current CUSIP upon effectiveness. This mandatory share exchange is designed to update the Company's capital structure and facilitate its strategic initiatives.
For shareholders holding shares through a brokerage account, no action is typically required. Brokerage firms and financial intermediaries are expected to process the exchange automatically through normal settlement procedures, with eligible shareholders receiving the appropriate post-split shares automatically. Similarly, registered book-entry shareholders whose shares are held directly with the Company's transfer agent generally do not need to submit any documentation; the transfer agent will update accounts to reflect the post-split share balance and new CUSIP.
However, shareholders who hold physical stock certificates registered in their own names are not required to immediately surrender their certificates. Because the forward stock split is tied to a mandatory CUSIP exchange, existing certificates will represent the pre-exchange security. When a shareholder later submits a certificate for transfer, sale, or exchange, it will be processed under the mandatory exchange procedures, and the transfer agent will issue post-split shares under the new CUSIP. Additional instructions for certificate holders will be provided by the transfer agent as the process moves forward.
Dr. Kevin Rodan Levy, CEO of LataMed AI, 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 those holding physical certificates.” He added that management intends to focus on advancing the Company's telemedicine platform and pursuing licensing opportunities for its CardioAI, PulmoAI, and NeuroAI platforms, which are key to building an integrated digital healthcare ecosystem in Latin America.
The Company believes the forward stock split supports its corporate development and strategic initiatives. Shareholders with questions are encouraged to contact their brokerage firm or the Company's transfer agent once detailed instructions are available. Additional updates will be provided as the corporate action progresses. For more information, visit https://latamed.ai or review SEC filings at www.sec.gov.
