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Enhanced Group Inc. has approved a proposed 1-for-10 reverse stock split of its Class A and Class B shares. The approval was given by written consent from the holder of a majority of the company’s voting power—not by a vote at a shareholder meeting—and the company says no further shareholder vote or action is required.
How the split was approved
On September 28, 2026, Enhanced Group announced that its board had approved the proposed split and that the action had been consented to by the holder of a majority of the company’s voting power. The preliminary Schedule 14C information statement identifies Enhanced Holdings LP as the consenting shareholder, acting through nominee and record holder Apeiron Investment Group Limited.
As of the September 25, 2026 record date, Enhanced Holdings LP beneficially owned 43,343,818 issued and outstanding Class A shares and 258,837,933 Class B shares, representing approximately 96.6% of combined voting power, according to the filing. The consent was the only shareholder approval required. No meeting will be held; the information statement gives notice of action already taken rather than asking shareholders to cast proxy votes.
What one-for-ten means for each class
For each class, every 10 issued and outstanding shares would be combined into one share of that same class: 10 Class A shares into one Class A share, and 10 Class B shares into one Class B share. The ratio is the same for both classes.
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The company says the split will not change a shareholder’s percentage ownership or relative voting power. That describes the intended mechanical effect; it does not mean the market price or value of an investor’s holding is guaranteed to remain unchanged.
Fractional shares
The filing says no fractional shares will be issued. If the calculation leaves a fractional interest, it will be rounded up to the next whole share of the applicable class at no additional cost. For shares held through The Depository Trust Company, fractional interests and rounding are determined at the DTC-participant level.
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What shareholders need to do
Enhanced Group said in its September 28 announcement: “No further shareholder vote or action is required or being requested, and shareholders are not being asked to take any action at this time.” Shareholders should rely on subsequent company or broker communications for account-specific handling, particularly for positions held through a DTC participant.
When the split may take effect and trading may change
Enhanced Group said it currently expects the split to take effect on or about October 28, 2026, subject to applicable SEC requirements and board discretion. The company cautioned that the actual date and time may differ. October 28 is therefore an estimate, not a confirmed effective date.
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The preliminary Schedule 14C says the action cannot become effective earlier than the 20th calendar day after the information statement has been furnished to shareholders. Its anticipated mailing date is listed as “on or about October [8], 2026,” with the day still bracketed. The company said it would notify the NYSE and issue a later release with the effective time, the split-adjusted trading start date, and the new CUSIP. Until then, its announcement says the stock will continue trading on the NYSE as ENHA during the process.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the company says it is doing this
Enhanced Group says its board believes a reverse split could make the stock more marketable and attractive to a broader range of institutional investors, brokerage firms, analysts, and other investment-community participants. The company presents the action as potentially supporting a more active and efficient market as it grows its Enhanced Games and Live Enhanced businesses.
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That is management’s rationale, not evidence that the split will increase liquidity, raise the share price, improve company value, or change operating performance. Enhanced Group also says the split is not being made in response to an NYSE continued-listing non-compliance notice, so it should not be described as a listing-compliance rescue.
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