share_log

8-K: Current report

SEC ·  Oct 17, 2024 16:46

Summary by Moomoo AI

Zoomcar Holdings announced a 1-for-100 reverse stock split effective October 21, 2024, at 4:30 p.m. Eastern Time, with split-adjusted trading beginning October 22. The move aims to increase per-share trading price and maintain Nasdaq listing compliance. The company's common stock will continue trading under the symbol "ZCAR" with a new CUSIP number 45784G200.The reverse split will automatically convert every 100 shares of issued and outstanding common stock into one share, maintaining the same par value. Proportionate adjustments will be made to stock options, warrants, and equity incentive plans, with any fractional shares rounded up to the nearest whole share. Equiniti Trust Company will serve as the exchange agent for the transaction.The split follows stockholder approval at the October 8 annual meeting, where a range of 1-for-50 to 1-for-150 was authorized, with the Board selecting the final 1:100 ratio. Registered stockholders holding shares electronically in book-entry form need not take action to receive post-split shares.
Zoomcar Holdings announced a 1-for-100 reverse stock split effective October 21, 2024, at 4:30 p.m. Eastern Time, with split-adjusted trading beginning October 22. The move aims to increase per-share trading price and maintain Nasdaq listing compliance. The company's common stock will continue trading under the symbol "ZCAR" with a new CUSIP number 45784G200.The reverse split will automatically convert every 100 shares of issued and outstanding common stock into one share, maintaining the same par value. Proportionate adjustments will be made to stock options, warrants, and equity incentive plans, with any fractional shares rounded up to the nearest whole share. Equiniti Trust Company will serve as the exchange agent for the transaction.The split follows stockholder approval at the October 8 annual meeting, where a range of 1-for-50 to 1-for-150 was authorized, with the Board selecting the final 1:100 ratio. Registered stockholders holding shares electronically in book-entry form need not take action to receive post-split shares.
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more