SplitJun 24, 2026, 06:01 AM
YY Group Announces 1-for-30 Reverse Stock Split
AI Summary
YY Group Holding Limited announced a 1-for-30 reverse stock split of its Class A ordinary shares, effective June 23, 2026. This action is primarily aimed at complying with Nasdaq's minimum bid price requirement to maintain its listing. The company also completed its $20 million At-The-Market (ATM) equity program, with proceeds designated for acquisitions, working capital, and overseas market expansion. The reverse split will reduce the number of outstanding shares from approximately 96.05 million to 3.2 million.
Key Highlights
- Board approved a 1-for-30 reverse stock split of Class A ordinary shares.
- Reverse stock split effective June 23, 2026, to meet Nasdaq minimum bid price requirement.
- Outstanding Class A ordinary shares reduced from approximately 96.05 million to 3.2 million.
- Completed the $20 million At-The-Market (ATM) equity offering on June 16, 2026.
- ATM proceeds to be used for 2025 acquisitions, working capital, and overseas expansion.
- 83,319,747 unissued Class A Ordinary Shares were canceled by the Transfer Agent.
Price Impact
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