Wearable Devices intends to effect a one-for-twenty reverse split of the Company’s ordinary shares, no par value per share and the Company’s tradable warrants. The Ordinary Shares and Warrants will continue to trade on the Nasdaq Capital Market under the existing symbols “WLDS” and “WLDSW”, respectively, and will begin trading on a split-adjusted basis when the market opens on October 10, 2024. The new CUSIP numbers for the Ordinary Shares and Warrants following the Reverse Share Split will be M97838 128 and M97838 151, respectively. The Reverse Share Split was approved by the Company’s shareholders at the Company’s Annual and Special Meeting of Shareholders held on September 26, 2024, to be effected at the board of directors’ discretion within approved parameters, and the board of directors has approved the 1-for-20 ratio. The Reverse Share Split will not result in an adjustment to the authorized share capital of the Company under the Company’s amended and restated articles of association, as currently in effect, which, as of the date hereof consists of 50,000,000 Ordinary Shares.
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