Summary by Moomoo AI
Universe Pharmaceuticals INC (NASDAQ: UPC) has announced a 15-to-1 share consolidation effective November 12, 2024. The consolidation will combine every 15 pre-consolidation ordinary shares into one new share, with the par value increasing from US$0.01875 to US$0.28125 per share. No shareholder action is required, and fractional shares will be rounded up.Trading on the post-consolidation basis will commence on November 18, 2024, on the Nasdaq Capital Market under the same symbol "UPC" but with a new CUSIP number. Following the consolidation, the company's authorized share capital will be US$140,625,000, divided into 450,000,000 ordinary shares and 50,000,000 preferred shares.Universe Pharmaceuticals, based in Ji'an, Jiangxi, China, specializes in manufacturing and distributing traditional Chinese medicine derivatives for the elderly, as well as biomedical drugs and supplements. The company's products are currently sold in 30 Chinese provinces.
