SplitJul 1, 2026, 08:32 AM
NetClass Announces 1-for-50 Reverse Stock Split for Nasdaq Compliance
AI Summary
NetClass Technology Inc. announced a 1-for-50 reverse stock split of its Class A and Class B ordinary shares, effective July 6, 2026. This action is intended to ensure the company maintains compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The split will proportionally reduce the number of outstanding shares, with Class A shares decreasing from approximately 63.9 million to 1.28 million and Class B shares from 2.0 million to 40,000, without altering shareholders' percentage of ownership.
Key Highlights
- NetClass announced a 1-for-50 reverse stock split.
- The reverse split will take effect on July 6, 2026.
- Objective is to maintain Nasdaq minimum bid price compliance ($1.00).
- Class A ordinary shares will decrease from 63.9M to 1.28M.
- Class B ordinary shares will decrease from 2.0M to 40,000.
- Trading will be under the same symbol NTCL but with a new CUSIP G6427C116.
- No fractional shares will be issued; shareholders receive one full share in lieu.
Price Impact
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