Corporate ActionJun 26, 2026, 04:46 PM
Zoomcar proposes 1-for-2 to 1-for-800 reverse split, boosts authorized shares
AI Summary
Zoomcar Holdings, Inc. announced its Annual General Meeting on July 20, 2026, where shareholders will vote on several significant corporate actions. Key proposals include increasing authorized common stock from 250 million to 1.99 billion shares and approving a reverse stock split at a ratio between one-for-two and one-for-eight hundred. Additionally, the company seeks approval to issue up to 509.2 million shares for a warrant exchange and to grant 1 million restricted shares to its Chairman. The Board unanimously recommends voting in favor of all proposals.
Key Highlights
- Annual General Meeting scheduled for July 20, 2026.
- Proposes to increase authorized Common Stock from 250,000,000 to 1,990,000,000 shares.
- Proposes a reverse stock split at a ratio of 1-for-2 to 1-for-800, at Board's discretion.
- Seeks approval to issue up to 509,192,089 shares for an Offer to Exchange Outstanding Warrants.
- Proposes 1,000,000 restricted share grant to Chairman Uri Levine.
- Board unanimously recommends voting "FOR" all proposals.
- Current Common Stock outstanding is 8,488,485 shares as of June 26, 2026.
- Pro-forma fully diluted shares after tender offer could reach 542,952,449.
Price Impact
More from ZCAR