Top KingWin (WAI) said Thursday that it will implement a 1-for-25 reverse stock split of its outstanding class A ordinary shares, effective Monday.
The reverse share split will reduce the number of the company's issued and outstanding shares to about 7.2 million from about 180 million.
The stock split is intended for the company to regain compliance with the minimum bid price requirement of $1 per share for continued listing on Nasdaq, the company said.
Shares of the company plunged nearly 17% in recent trading.
Price: 0.12, Change: -0.02, Percent Change: -16.96
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.