Global Mofy AI to execute 1-for-15 reverse stock split
seekingalpha
22 Nov 2024
Global Mofy AI (NASDAQ:GMM) is set to execute a 1-for-15 reverse stock split of its ordinary shares.
The company's Class A ordinary shares will begin trading on an adjusted basis, reflecting the reverse stock split, on Nov. 26, 2024.
Upon the effectiveness, every 15 shares of the company’s issued and outstanding Class A ordinary shares as of the effective date will automatically be combined into one Class A ordinary share.
The reverse stock split is part of the company’s efforts to bring its stock into compliance with the minimum bid price requirement for maintaining the listing on the Nasdaq Capital Market.
This adjustment will reduce the total number of outstanding ordinary shares of Global Mofy from ~42.2M to ~2.8M.
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