SplitJul 7, 2026, 04:33 PM
NetClass Technology Implements 1-for-50 Reverse Stock Split
AI Summary
NetClass Technology Inc. has implemented a 1-for-50 reverse stock split for its Class A and Class B ordinary shares, effective July 6, 2026. This corporate action aims to help the company regain compliance with Nasdaq's minimum bid price requirement. As a result, the number of outstanding shares has significantly decreased, and the par value per share has increased proportionally.
Key Highlights
- Implemented a 1-for-50 reverse stock split (share consolidation).
- Reverse stock split became effective at market open on July 6, 2026.
- Objective is to maintain compliance with Nasdaq's minimum bid price rule.
- Class A ordinary shares reduced from ~63.94 million to ~1.28 million.
- Class B ordinary shares reduced from ~2 million to ~0.4 million.
- Par value increased from $0.00025 to $0.0125 per share.
- No fractional shares issued; rounded up to the nearest whole share.
- New CUSIP number is G6427C116.
Price Impact
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