Golden Matrix Group, Inc. (NASDAQ: GMGI) announced its board of directors has approved a 1-for-12 reverse stock split of its common stock and a corporate name change to Meridian Holdings Inc. The changes are scheduled to take effect on March 3, 2026, with shares expected to begin trading under the new ticker symbol "MRDN" on the Nasdaq Capital Market that same day.
The reverse stock split is designed to raise the nominal price of GMGI shares to ensure compliance with Nasdaq Listing Rule 5550(a)(2), which establishes minimum bid price requirements for continued listing. The company's chief financial officer, Rich Christensen, described the move as a strategic capital structure optimization that aligns the company with best practices for public companies and gaming industry standards. "By consolidating our shares, we are bringing our capital structure in line with companies of our scale and revenue profile," Christensen stated, adding that the action seeks to position the company for broader access to capital markets.
As a result of the reverse stock split, every twelve shares of common stock outstanding will be reclassified into one new share. This will reduce the number of issued and outstanding shares from approximately 151.7 million to approximately 12.6 million, while authorized shares will decrease from 300 million to 25 million. The company will file a Certificate of Change Pursuant to Nevada Revised Statutes 78.209 to implement the reverse stock split and a Certificate of Amendment to implement the name change.
The reverse stock split will affect all stockholders uniformly without altering percentage ownership interests, except for adjustments related to fractional shares. No fractional shares will be issued; instead, stockholders will receive cash payments for fractional interests based on the closing price per share on Nasdaq immediately prior to the effective time. The company's transfer agent, VStock Transfer LLC, will handle the exchange process, with most stockholders not required to take any action. Additional information about the reverse stock split will be available in the company's Current Report on Form 8-K, which GMGI plans to file with the Securities and Exchange Commission on March 3, 2026. This document will be accessible on the SEC's website at https://www.sec.gov and in the investors section of the company's website at https://goldenmatrix.com/investor.
The corporate restructuring represents a significant development for the international gaming technology company, which operates both business-to-business and business-to-consumer divisions across multiple international markets. The name change to Meridian Holdings Inc. follows the company's 2024 acquisition of Meridianbet Group, a leading online sports betting and gaming operator licensed in multiple jurisdictions across Europe, Africa, and South America. The reverse stock split and rebranding come as the company seeks to strengthen its market position while addressing regulatory compliance requirements that could impact its continued listing on Nasdaq.
For investors and market observers, these changes signal the company's efforts to optimize its capital structure and enhance its appeal to institutional investors who may have minimum price requirements for portfolio inclusion. The reduced share count could potentially increase liquidity and trading stability, while the name change reflects the company's evolving identity following strategic acquisitions. The gaming industry continues to experience regulatory evolution and market consolidation, making such corporate actions increasingly common as companies position themselves for sustainable growth in competitive global markets.
