SplitAug 11, 2026, 04:49 PM
Elong Power completes 45-for-1 share consolidation for Nasdaq compliance
AI Summary
Elong Power Holding Limited completed a 45-for-1 share consolidation, effective August 10, 2026, to maintain compliance with Nasdaq's minimum bid price requirement. This action reduced the number of outstanding Class A ordinary shares from approximately 35 million to 0.78 million and Class B ordinary shares from 114,515 to 2,545, while increasing the par value per share. The company's warrants were also proportionately adjusted, with the exercise price now set at $4.38 per share and the number of warrant shares adjusted to approximately 2.9 million.
Key Highlights
- Completed a 45-for-1 share consolidation effective August 10, 2026.
- Class A ordinary shares began trading on Nasdaq on a post-consolidation basis under symbol ELPW.
- Outstanding Class A shares reduced from approximately 35 million to 0.78 million.
- Outstanding Class B shares reduced from approximately 114,515 to 2,545.
- Par value increased from US$0.0128 to US$0.576 per share.
- Consolidation aims to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) ($0.10 bid price).
- Warrants to purchase Class A shares adjusted proportionately, with exercise price now $4.38 per share.
- Number of warrant shares adjusted to approximately 2,916,932 Class A Ordinary Shares.
Price Impact
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