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SAN JOSE, Calif. - Energous Corporation (NASDAQ:WATT), currently trading at $0.42 and down over 50% in the past year, announced it will implement a 1-for-30 reverse stock split of its common stock effective August 11, 2025, as the company seeks to regain compliance with Nasdaq’s minimum bid price requirements.
The reverse split, which was approved by stockholders at the Annual Meeting on June 11, will automatically convert every 30 shares of issued and outstanding common stock into one share when markets open on August 11, with the stock continuing to trade under the symbol "WATT" but with a new CUSIP number. According to InvestingPro data, the company maintains a strong current ratio of 4.03 and holds more cash than debt on its balance sheet, though it’s currently burning through cash rapidly.
According to the company’s statement, the move is specifically intended to bring Energous into compliance with Nasdaq Capital Market listing requirements. The wireless power solutions provider, with a market capitalization of $18.48 million, said proportionate adjustments will be made to outstanding equity awards, warrants, and shares available under equity incentive plans. InvestingPro analysis reveals 15+ additional insights about WATT’s financial health and market position, available exclusively to subscribers.
Stockholders will not receive fractional shares but instead will get cash payments for any fractional interests. Those holding shares electronically will not need to take action to receive post-split shares, while those owning shares through banks or brokers will have their positions adjusted according to their institutions’ processes.
Energous, which specializes in over-the-air wireless power networks, said the reverse split will affect all stockholders uniformly and will not alter any stockholder’s relative interest in the company’s equity securities, except for fractional share adjustments.
Computershare Trust Company is serving as the exchange agent and transfer agent for the reverse stock split, which was determined by the company’s board of directors within a range previously approved by stockholders.
In other recent news, Energous Corporation announced its strongest quarterly revenue to date, expecting to report over $900,000 for the second quarter of 2025. This marks a significant milestone for the company, as it also anticipates its lowest quarterly net loss in a decade. The projected net loss is approximately $3 million for the quarter ending June 30, reflecting an 11% improvement from the previous quarter and a 30% reduction compared to the same period last year. These developments highlight the company’s ongoing efforts to improve its financial performance. The recent earnings report underscores Energous’ progress and resilience. Investors may find these figures noteworthy as they consider the company’s trajectory. These updates are part of the latest series of developments from Energous Corporation.
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