Anghami to implement 1-for-10 reverse stock split to meet Nasdaq requirements

ABU DHABI - Anghami Inc. (NASDAQ:ANGH), a multimedia streaming platform in the Middle East and North Africa region, announced Tuesday it will implement a 1-for-10 reverse stock split of its ordinary shares. The company’s stock, currently trading at $0.59, has shown significant momentum with a 27% gain over the last week, according to InvestingPro data.

The company’s shares are expected to begin trading on a split-adjusted basis on August 4, 2025, under the existing "ANGH" symbol but with a new CUSIP number.

Shareholders approved the reverse split at an Extraordinary General Meeting held on July 22, 2025. The primary objective is to regain compliance with Nasdaq Capital Market’s minimum bid price requirement for continued listing. InvestingPro analysis indicates the company faces financial challenges, with a current ratio of 0.6 suggesting short-term obligations exceed liquid assets.

Upon implementation, every ten issued and outstanding ordinary shares will be combined into one share, with the par value increasing proportionately from $0.0001 to $0.001 per share. The conversion or exercise prices of all convertible securities and warrants will be adjusted accordingly.

The company stated that the reverse split will not have a dilutive effect on shareholders, and the proportion of shares held relative to authorized shares will remain unchanged. Shareholders will not receive fractional shares but will instead receive cash payments in lieu of any fractional shares.

Continental Stock Transfer and Trust Company has been appointed as the exchange and transfer agent for the reverse stock split. Shareholders holding shares electronically will not need to take action to receive post-split shares, while those holding shares through banks or brokers will have their positions adjusted automatically.

Anghami, which partnered with video streaming platform OSN+ in April 2024, reports having over 120 million registered users and 3.5 million paid subscribers across the MENA region.

The announcement was made in a company press release.

In other recent news, Anghami Inc. announced plans to implement a 1-for-10 reverse stock split, with the company’s ordinary shares expected to begin trading on a split-adjusted basis on August 4, 2025. This move is part of Anghami’s ongoing corporate strategy. Additionally, Anghami has scheduled an extraordinary shareholder meeting for July 22, 2025, after postponing a previous meeting. The company has provided notice and a proxy statement to shareholders, ensuring compliance with applicable laws and Nasdaq requirements. OSN+, the majority shareholder, is anticipated to vote in favor of the matters to be discussed at the meeting. Furthermore, Anghami had initially planned an extraordinary shareholder meeting for July 16, 2025, to address issues detailed in the official notice and proxy statement. The company has distributed the necessary materials, including the agenda and proxy card for voting, as part of its latest filing with the U.S. Securities and Exchange Commission.

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