SplitJun 24, 2026, 04:52 PM
Virax Biolabs Announces 1-for-25 Share Consolidation
AI Summary
Virax Biolabs Group Limited announced a 1-for-25 share consolidation, effective June 26, 2026. This action was approved by the board of directors and previously by shareholders to enable the company to regain compliance with Nasdaq's minimum bid price requirement of $1 per share. The consolidation will result in every twenty-five existing ordinary shares being combined into one new share, with fractional shares rounded up.
Key Highlights
- Share consolidation ratio of 1-for-25 approved by the board of directors.
- Effective date for the share consolidation is June 26, 2026.
- Objective is to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) (minimum bid price of $1 per share).
- Trading on a post-Share Consolidation basis will begin on June 26, 2026, under new CUSIP G9495L133.
- Every 25 ordinary shares of US$0.001 par value will consolidate into one ordinary share of US$0.025 par value.
- Fractional shares will be rounded up to the next whole number.
- Share consolidation will not alter any shareholder's percentage interest, except for fractional share adjustments.
Price Impact
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