\nSelectQuote, Inc. (NYSE: SLQT) (\u201cSelectQuote\u201d or the \u201cCompany\u201d) today announced that its board of directors (the \u201cBoard\u201d) has approved a 1-for-20 reverse stock split of the Company\u2019s common stock and a proportionate reduction in the number of authorized shares of common stock. At the Company\u2019s Annual Meeting of Stockholders (the \u201cAnnual Meeting\u201d) on November 10, 2026, the Company\u2019s stockholders approved an amendment to the Company\u2019s Sixth Amended and Restated Certificate of Incorporation to effect a reverse stock split at a ratio between 1-for-10 and 1-for-20, with the exact ratio to be determined by the Board.<\/p>\n
\nThe reverse stock split is intended to help the Company regain compliance with the minimum stock price requirement for continued listing on the New York Stock Exchange.<\/p>\n
\n\u201cThis 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.\u201d said Tim Danker, SelectQuote\u2019s CEO.<\/p>\n
\nThe reverse stock split is expected to become effective at 11:59 p.m. Eastern Time on November 16, 2026. Shares of the Company\u2019s common stock are expected to begin trading on a split-adjusted basis on the New York Stock Exchange at market open on November 17, 2026 under the existing trading symbol \u201cSLQT\u201d and a new CUSIP number of 816307 409.<\/p>\n
Information for SelectQuote Stockholders<\/b><\/p>\n
\nIn connection with the reverse stock split, every 20 shares of the Company\u2019s common stock issued and outstanding immediately prior to the effective time will be automatically reclassified and combined into 1 share of common stock. The 1-for-20 reverse stock split will reduce the number of outstanding shares of the Company\u2019s common stock from 180,185,985 to approximately 9,009,299. Proportional adjustments will be made to the number of shares of the Company\u2019s common stock subject to outstanding equity awards and warrants, as well as the applicable exercise price. The total number of authorized shares of the Company\u2019s common stock will be reduced from 700,000,000 to 35,000,000.<\/p>\n
\nComputershare Trust Company, N.A., the transfer agent for the Company\u2019s common stock, will act as the exchange agent, and may be contacted at (800) 736-3001.<\/p>\n
\nNo fractional shares of common stock will be issued as a result of the reverse stock split. Any stockholders of common stock who would have been entitled to receive fractional shares as a result of the reverse stock split will instead receive cash payments in lieu of such fractional shares.<\/p>\n
\nFor more information on the reverse stock split, please refer to the proxy materials in connection with the Annual Meeting, which materials can be accessed through the investor relations portion of the Company\u2019s website at ir.selectquote.com and on the United States Securities and Exchange Commission\u2019s (\u201cSEC\u201d) EDGAR website, sec.gov<\/a>.<\/p>\n Forward Looking Statements<\/b><\/p>\n This release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as \u201cmay,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201cbelieve,\u201d \u201cwill likely result,\u201d \u201cexpect,\u201d \u201ccontinue,\u201d \u201cwill,\u201d \u201canticipate,\u201d \u201cseek,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cprojection,\u201d \u201cwould\u201d and \u201coutlook,\u201d or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management\u2019s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: our reliance on a limited number of insurance carrier partners and any potential termination of those relationships or failure to develop new relationships; existing and future laws and regulations affecting the health insurance market; changes in health insurance products offered by our insurance carrier partners and the health insurance market generally; insurance carriers offering products and services directly to consumers; changes to commissions paid by insurance carriers and underwriting practices; competition with brokers, exclusively online brokers and carriers who opt to sell policies directly to consumers; competition from government-run health insurance exchanges; developments in the U.S. health insurance system; our dependence on revenue from carriers in our senior segment and downturns in the senior health as well as life, automotive and home insurance industries; our ability to develop new offerings and penetrate new vertical markets; risks from third-party products; failure to enroll individuals during the Medicare annual enrollment period; our ability to attract, integrate and retain qualified personnel; our dependence on lead providers and ability to compete for leads; failure to obtain and\/or convert sales leads to actual sales of insurance policies; access to data from consumers and insurance carriers; accuracy of information provided from and to consumers during the insurance shopping process; cost-effective advertisement through internet search engines; ability to contact consumers and market products by telephone; our use of artificial intelligence and other emerging technologies; global economic conditions, including inflation; disruption to operations as a result of future acquisitions; significant estimates and assumptions in the preparation of our financial statements; impairment of goodwill; potential litigation and other legal proceedings or inquiries; our existing and future indebtedness; our ability to maintain compliance with our debt covenants; access to additional capital; our ability to regain and maintain compliance with NYSE listing standards; failure to protect our intellectual property and our brand; fluctuations in our financial results caused by seasonality; accuracy and timeliness of commissions reports from insurance carriers; timing of insurance carriers\u2019 approval and payment practices; factors that impact our estimate of the constrained lifetime value of commissions per policyholder; changes in accounting rules, tax legislation and other legislation; disruptions or failures of our technological infrastructure and platform; failure to maintain relationships with third-party service providers; cybersecurity breaches or other attacks involving our systems or those of our insurance carrier partners or third-party service providers; our ability to protect consumer information and other data; failure to market and sell Medicare plans effectively or in compliance with laws; and other factors related to our pharmacy business, including manufacturing or supply chain disruptions, access to and demand for prescription drugs, changes in reimbursement rates under our contracts with pharmacy benefit managers, and regulatory changes or other industry developments that may affect our pharmacy operations. For a further discussion of these and other risk factors that could impact our future results and performance, see the section entitled \u201cRisk Factors\u201d in the most recent Annual Report on Form 10-K and subsequent periodic reports filed by us with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.<\/i><\/p>\n About SelectQuote:<\/b><\/p>\n \nFounded in 1985, SelectQuote (NYSE: SLQT) pioneered the model of providing unbiased comparisons from multiple, highly-rated insurance companies, allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin SelectQuote\u2019s success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources and routes high-quality leads. Today, the Company operates an ecosystem offering high touchpoints for consumers across insurance, pharmacy, and virtual care.<\/p>\n \nWith an ecosystem offering engagement points for consumers across insurance, Medicare, pharmacy, and value-based care, the company now has three core business lines: SelectQuote Senior, SelectQuote Healthcare Services, and SelectQuote Life. SelectQuote Senior serves the needs of a demographic that sees around 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans. SelectQuote Healthcare Services is comprised of the SelectRx Pharmacy, a Patient-Centered Pharmacy Home\u2122 (PCPH) accredited pharmacy, SelectPatient Management, a provider of chronic care management services, and Healthcare Select which proactively connects consumers with a wide breadth of healthcare services supporting their needs.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20261113703686\/en\/<\/a><\/span><\/p>\n \nInvestor Relations: \nMedia: KEYWORDS:<\/b> Kansas United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Other Professional Services Insurance Pharmaceutical Managed Care Health Professional Services Health Insurance Other Health<\/p>\n<\/p>\n
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Sloan Bohlen
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877-678-4083
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investorrelations@selectquote.com<\/a><\/p>\n
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Matt Gunter
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913-286-4931
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matt.gunter@selectquote.com<\/a><\/p>\n
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