Check-Cap (MBAI) Advances Merger with MBody AI; Reverse Share Split Effective

Check-Cap Ltd. (NASDAQ: MBAI) advanced its proposed merger with physical AI company, MBody AI Corp., completing a planned 1-for-7 reverse share split

ISFIYA, Israel and LAS VEGAS, Aug. 13, 2026 (GLOBE NEWSWIRE) — Check-Cap Ltd. (“Check-Cap” or the “Company”) (NASDAQ: MBAI) today announced that a 1-for-7 reverse share split (the “Reverse Share Split”) of the Company’s ordinary shares is effective on August 13, 2026, advancing its proposed merger (“the Merger”) with a physical AI company, MBody AI Corp. (“MBody AI”). The Company’s ordinary shares begin trading on a split-adjusted basis on The Nasdaq Capital Market at the market open this morning, continuing under the symbol “MBAI” and under new CUSIP number M6S83C106.

The Reverse Share Split is a proactive, shareholder-approved step taken in preparation for the closing of the proposed Merger and the combined company’s initial listing application with Nasdaq. Currently, the Company is in compliance with all applicable Nasdaq continued listing standards. Completing the Reverse Share Split ahead of closing of the Merger positions the combined company to satisfy the $4.00 minimum bid price standard that applies to its initial listing application with Nasdaq. The proposed Merger remains on track to close in the third quarter of 2026, subject to final Nasdaq approval and the satisfaction of the remaining customary closing conditions, none of which is assured.

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The Reverse Share Split adjusts the number of issued and outstanding ordinary shares from approximately 9,463,062 shares to approximately 1,351,866 shares. Every seven (7) issued and outstanding ordinary shares of the Company as of the effective time of the Reverse Share Split are consolidated into one (1) ordinary share.

No fractional shares are issued in connection with the Reverse Share Split. All fractional shares are rounded up to the nearest whole ordinary share. Equiniti Trust Company, LLC is acting as the transfer and exchange agent for the Reverse Share Split. Registered shareholders are not required to take any action to receive post-Reverse Share Split shares. Shareholders who are holding their shares in electronic form at brokerage firms need not take any action as the effect of the Reverse Share Split will automatically be reflected in their brokerage accounts.

The Company’s Board of Directors approved the Reverse Share Split on July 31, 2026, and the Company obtained shareholder approval for the Reverse Share Split at its Annual General Meeting of Shareholders held on November 14, 2025.