VAX One Technology Ltd. (NASDAQ:AVX) ("AVAX One" or the "Company"), today announced the Company's Board of Directors has approved a reverse stock split of the Company's issued and outstanding common shares whereby every twelve (12) shares of its outstanding common shares will automatically be combined into one (1) common share. All fractional shares will be cashed out.

The reverse split was approved by the Company's shareholders on May 29, 2026, and will be effective as of the commencement of trading on June 15, 2026, at the open of market. As of the close of business on June 10, 2026, AVAX One had 92,335,381 common shares issued and outstanding. Post reverse split, this would equate to 7,694,615 shares. The reverse stock split is being implemented for the purpose of complying with the closing bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).