LataMed AI Corp. (OTC: LMED), a development-stage digital health and artificial intelligence technology company, provided shareholders with an update on the implementation of its previously announced 5-for-1 forward stock split and mandatory share exchange process. As of July 7, 2026, the company has submitted all required information to FINRA and anticipates the corporate action may become effective within approximately the next week, subject to FINRA's review and final processing.
The forward stock split will be implemented alongside the assignment of a new CUSIP number, 21116R404, which will replace the current CUSIP upon effectiveness. This change is designed to facilitate the mandatory share exchange process and support the company's broader strategic initiatives.
Management provided detailed guidance on how the exchange will be administered for different types of shareholders. For shareholders holding shares through a brokerage account in street name, no action is required. Brokerage firms and custodians are expected to process the exchange automatically through normal securities settlement procedures, and eligible shareholders should receive the appropriate number of post-split shares automatically.
Similarly, registered book-entry shareholders—those holding shares directly with the company's transfer agent in electronic form—generally do not need to submit any documentation. The transfer agent will update eligible accounts to reflect the post-split share balance and new CUSIP as part of the mandatory exchange process.
Physical stock certificate holders are not required to immediately surrender their certificates. However, because the forward split is coupled with a mandatory CUSIP exchange, existing certificates will represent the pre-exchange security. When a shareholder later decides to submit a physical certificate for transfer, sale, or exchange, it will be processed under the mandatory exchange procedures then in effect. The transfer agent will then issue the appropriate number of post-split shares under the new CUSIP.
Dr. Kevin Rodan Levy, CEO of LataMed AI, emphasized the importance of clear communication: '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 for those holding physical stock certificates.'
Looking ahead, Dr. Levy stated that management intends to focus on advancing the company's telemedicine platform and pursuing licensing and commercialization opportunities for its CardioAI, PulmoAI, and NeuroAI artificial intelligence platforms. These initiatives are considered key components of the company's long-term strategy to build an integrated digital healthcare ecosystem throughout Latin America.
The company believes the forward stock split supports continued corporate development and broader strategic initiatives while facilitating the implementation of the new CUSIP and updated capital structure. Additional updates regarding the effective date and implementation timeline will be provided as the corporate action progresses. Shareholders with questions are encouraged to contact their brokerage firm or the company's transfer agent once detailed exchange instructions become available. For more information, visit https://latamed.ai or review the company's SEC filings at www.sec.gov.
