SelectQuote Approves 1-for-20 Reverse Stock Split
The move aims to help the company regain compliance with the NYSE minimum share price requirement.
Updated on Nov. 13, 2026 in Public Companies
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SelectQuote approved a 1-for-20 reverse stock split, combining every 20 outstanding shares into one. Stockholders approved a ratio range of 1-for-10 to 1-for-20 at the November 10 annual meeting and left the final ratio to the board.
Why it matters
The split is intended to help the company regain compliance with the New York Stock Exchange's minimum share price requirement. Shares closed at about $0.49 on November 12, 2026, far below the $20 IPO price.
The split will reduce outstanding shares from about 180.2 million to 9 million and authorized shares from 700 million to 35 million. At a closing price of about $0.49, the company's market capitalization was roughly $88 million, a 97% decline from its approximately $3.3 billion IPO valuation.
The players
SelectQuote
SelectQuote is a publicly traded insurance distribution company that connects consumers with insurance carriers and went public on the New York Stock Exchange in 2020.
New York Stock Exchange
The New York Stock Exchange is the largest stock exchange in the United States and sets minimum share price requirements that listed companies must maintain.
The details
Every 20 outstanding shares will be combined into one, and shareholders will receive cash in place of any fractional shares. The approval was given at the November 10 annual meeting, where the reverse split ratio range was authorized.
Timeline
May 21, 2020: SelectQuote went public on the NYSE at $20 a share.
November 10, 2026: Stockholders approved the reverse split ratio range at the annual meeting.
November 12, 2026: Shares closed at about $0.49.
November 16, 2026: The reverse split is expected to take effect late in the day.
November 17, 2026: Split-adjusted shares are expected to begin trading under the ticker SLQT.
Market Landscape
The move follows the NYSE minimum share price standard that requires listed companies to keep their stock above a set threshold, and SelectQuote's split is a remedy to restore compliance with it. The reduction in shares from 180.2 million to 9 million reshapes the company's capital structure, while its expected operating cash flow of more than $60 million this fiscal year gives it a financial base to pursue the listing fix.
Existing shareholders will see each 20 shares combined into one, with cash paid for any fractional shares, so their total investment value is preserved at the time of the split rather than changed by it. The split is designed to keep SelectQuote listed on the NYSE, which affects whether the stock remains available for trading on a major exchange.
The takeaway
A reverse split reduces share count while raising the per-share price, but it does not by itself change a company's underlying value. Investors should watch whether the post-split price holds above the exchange minimum.
What happens next
The reverse split is expected to take effect late on November 16, 2026, with split-adjusted shares beginning to trade under SLQT on November 17, 2026.
Further reading
For more on how listed firms handle share price shortfalls, browse Public Companies coverage.
Source note: This article includes information reported by Coverager - Insurance news and insights.
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