LataMed AI Corp. (OTC: LMED) provided shareholders with an update on the implementation of its previously announced 5-for-1 forward stock split and the related mandatory share exchange process. The Company has submitted all requested information to FINRA and anticipates 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, to facilitate the mandatory exchange.
Shareholders holding shares through a brokerage account are generally not required to take any action, as brokerage firms are expected to process the exchange automatically. Similarly, registered book-entry shareholders do not need to submit documentation. However, 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 new CUSIP. Additional instructions will be provided by the Company's transfer agent.
Dr. Kevin Rodan Levy, CEO, stated: "We want to ensure that our shareholders clearly understand how the forward stock split and mandatory exchange process will be implemented." He emphasized that the majority of shareholders will have their shares updated automatically. Management intends to focus on advancing the telemedicine platform and pursuing licensing and commercialization opportunities for CardioAI, PulmoAI, and NeuroAI platforms, which are key to building an integrated digital healthcare ecosystem in Latin America.
The forward stock split supports the Company's corporate development and strategic initiatives. For more information, visit https://latamed.ai or review SEC filings at www.sec.gov. This update is important as it clarifies the stock split process for shareholders and underscores LataMed's commitment to advancing its AI-driven healthcare solutions in emerging markets.
