Nature's Miracle Holding Inc. (NASDAQ:NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and infrastructure, today announced that on November 21, 2024, effective at 12:01 a.m. Eastern Time, it will effectuate a 1-for-30 reverse split of its common stock. The Company's common stock will begin trading on a split-adjusted basis when the market opens on November 21, 2024, under its current trading symbol "NMHI". The new CUSIP number of the Company's common stock following the reverse stock split will be 63903P 209.
The reverse stock split is intended, among other things, primarily to increase the bid price of the Company's common stock to enable the Company to regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Global Market.
When the reverse stock split becomes effective, every 30 shares of the Company's common stock issued and outstanding will be combined and reclassified automatically into 1 share of common stock. The reverse stock split will affect all holders of common stock uniformly and each stockholder will hold the same percentage of common stock outstanding immediately following the reverse stock split as that stockholder held immediately prior to the reverse stock split, except for adjustments that may result from the treatment of fractional shares. No fractional shares will be issued in connection with the reverse stock split. Any amount of fractional shares will be rounded up to the next nearest number at the participant level.
