LataMed AI Corp. (OTC: LMED) has provided shareholders with an update on the implementation of its 5-for-1 forward stock split and mandatory share exchange process. The Company has submitted all required information to FINRA and anticipates the corporate action may become effective within approximately the next week, pending FINRA's review and final processing. The forward stock split will be accompanied by a new CUSIP number (21116R404), replacing the current CUSIP upon effectiveness.
Shareholders holding shares through brokerage accounts will generally have their shares updated automatically, as brokerage firms and custodians are expected to process the exchange through normal settlement procedures. Registered book-entry shareholders with the Company's transfer agent also need not take action, as the transfer agent will update accounts to reflect the post-split share balance and new CUSIP. For shareholders with physical stock certificates, the existing certificates will represent the pre-exchange security. When a certificate is submitted for transfer, sale, or exchange, the transfer agent will process it according to mandatory exchange procedures and issue post-split shares under the new CUSIP.
Dr. Kevin Rodan Levy, CEO of LataMed AI, stated: "We want to ensure that our shareholders clearly understand how the forward stock split and mandatory exchange process will be implemented. While the vast majority of shareholders are expected to have their shares updated automatically, we believe it is important to provide clear guidance regarding the process for shareholders holding physical stock certificates." He added that management intends to focus on advancing the telemedicine platform and pursuing licensing and commercialization opportunities for the CardioAI, PulmoAI, and NeuroAI artificial intelligence platforms, which are key to building an integrated digital healthcare ecosystem in Latin America.
The Company believes the forward stock split supports its corporate development and strategic initiatives while facilitating the new CUSIP and updated capital structure. Additional instructions regarding certificate submission and processing will be provided by the transfer agent. The Company encourages shareholders with questions to contact their brokerage firm or the transfer agent once detailed instructions are available. For more information, visit https://latamed.ai or review SEC filings at www.sec.gov.
