Whe the eve se stock split becomes effective, eve y 8 sha es of the Compa y’s autho ized a d outsta di g commo stock will be combi ed i to o e sha e of commo stock. Each stockholde ‘s pe ce tage ow e ship i te est i B ightli e will emai u cha ged afte the eve se stock split. A y f actio al sha es esulti g f om the eve se stock split will be ou ded up to the ea est whole sha e of commo stock at the Deposito y T ust Compa y pa ticipa t level.
As p eviously disclosed, o Ma ch 13, 2026, the Compa y eceived deficie cy otices f om Nasdaq i dicati g that the closi g bid p ice of the Commo Stock had bee below $1.00 pe sha e fo 30 co secutive busi ess days, a d as such the Compa y was ot i complia ce with the Bid P ice Requi eme t. The Compa y failed to egai complia ce withi the 180-day g ace pe iod, a d Nasdaq subseque tly issued a Staff Dete mi atio to delist the Compa y o Septembe 11, 2026. The Compa y equested a hea i g to appeal the Staff Dete mi atio , which stayed the delisti g dete mi atio , a d has impleme ted the eve se split to egai complia ce with the Bid P ice Requi eme t. The Compa y a ticipates that it will egai complia ce with the Bid P ice Requi eme t p io to the date of the Nasdaq Hea i g Pa el, i which case the Staff Dete mi atio would be mooted, a d the Compa y would o lo ge be subject to delisti g pu sua t to the Staff Dete mi atio . Regai i g complia ce with the Bid P ice Requi eme t is subject to ma ket t adi g a d acco di gly the e ca be o assu a ce that the Compa y will egai complia ce p io to the date of the Nasdaq Hea i g Pa el, o at all.
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This p ess elease co tai s “fo wa d-looki g stateme ts” as that te m is defi ed i the P ivate Secu ities Litigatio Refo m Act of 1995, i cludi g stateme ts elated to B ightli e I te active’s st ategy to egai complia ce with Nasdaq listi g equi eme ts a d pla s to co duct a eve se stock split. The wo ds “pla ,” “will,” “i te d,” “a ticipate,” a d simila exp essio s, o the egative of these wo ds o othe simila te ms, a e i te ded to ide tify fo wa d-looki g stateme ts, although ot all fo wa d-looki g stateme ts co tai these ide tifyi g wo ds. Although the Compa y believes that it is basi g its expectatio s a d beliefs o easo able assumptio s withi the bou ds of what is cu e tly k ow about its busi ess a d ope atio s, the e ca be o assu a ce that actual esults will ot diffe mate ially f om what the Compa y expects o believes. Some of the facto s that could cause the Compa y’s actual esults to diffe mate ially f om its expectatio s o beliefs a e disclosed i the “Risk Facto s” sectio , as well as othe sectio s, of its epo ts filed with the Secu ities a d Excha ge Commissio , which i clude, without limitatio , its ability to egai a d mai tai complia ce with Nasdaq’s co ti ued listi g sta da ds a d mai tai the listi g of its secu ities o Nasdaq. All fo wa d-looki g stateme ts speak o ly as of the date o which they a e made, a d the Compa y u de takes o duty to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts o othe wise.
Demet ios Soutsos, Chief St ategy Office
B ightli e:
