SelectQuote announces 1-for-20 reverse stock split
SelectQuote has approved a 1-for-20 reverse stock split to help regain compliance with the New York Stock Exchange’s minimum share price requirement.
The split is expected to take effect late on November 16, with shares beginning to trade on a split-adjusted basis on November 17 under the existing ticker, SLQT.
Every 20 outstanding shares will be combined into one, reducing SelectQuote’s outstanding share count from approximately 180.2 million to 9 million. Authorized shares will also decline proportionately, from 700 million to 35 million. Shareholders will receive cash in place of any fractional shares.
Stockholders approved a reverse split ratio ranging from 1-for-10 to 1-for-20 at the company’s November 10 annual meeting, leaving the final ratio to the board.
CEO Tim Danker said the company’s valuation does not reflect the strength of its business, pointing to expected operating cash flow of more than $60 million this fiscal year and a commissions receivable balance exceeding $1 billion.
“This is an important step that aligns with our commitment to remain listed on the NYSE. While we do not believe our current equity valuation reflects the strength of our business, SelectQuote remains an industry leader with a compelling opportunity ahead. Our differentiated insurance distribution and healthcare services businesses, improving cash flow profile, and strong balance sheet provide a solid foundation for continued growth. We expect to generate more than $60 million in operating cash flow this year and have a commissions receivable balance in excess of $1 billion. Together, these strengths position SelectQuote to continue innovating, leading our markets, and delivering world-class service to the millions of customers we serve.” – CEO Tim Danker.
SelectQuote went public on the NYSE on May 21, 2020, at $20 a share, valuing the company at approximately $3.3 billion. Its shares closed at about $0.49 on November 12, 2026, putting its market capitalization at roughly $88 million—about 97% below its IPO valuation.
