Zhongchao Inc.

Zhongchao Inc. held an Extraordinary General Meeting on June 18, 2026, where shareholders approved several key corporate actions. These include a significant increase in the company's authorized share capital from US$20 million to US$10 billion. Additionally, shareholders approved a share consolidation, or reverse stock split, with a ratio ranging from 2:1 to 250:1, to be implemented at the Board's discretion within three years. The meeting also approved amendments to the company's memorandum and articles of association to reflect these changes.

Zhongchao Inc. has announced an Extraordinary General Meeting of Shareholders to be held on June 18, 2026. The meeting will consider five proposals, including a significant increase in authorized share capital from $20 million to $10 billion, and the authorization for the board to implement a share consolidation with a ratio between 2:1 and 250:1 within three years. Amendments to the company's memorandum and articles of association are also proposed to reflect these changes. The Board of Directors unanimously recommends that shareholders vote in favor of all proposals.

Zhongchao Inc. completed a public offering, raising aggregate gross proceeds of $5.6 million before deducting placement agent fees and other estimated expenses. The offering included Class A Ordinary Shares, Pre-Funded Warrants, and Warrants, with an additional allocation option also exercised by investors. All Pre-Funded Warrants and Warrants have since been exercised, resulting in the issuance of a significant number of Class A Ordinary Shares. The company intends to use the net proceeds for general working capital and other corporate purposes.

Zhongchao Inc. filed an amendment to its F-1 registration statement for a best-efforts public offering of up to 5,555,555 units. Each unit, priced at an assumed $2.16, consists of one Class A Ordinary Share (or a Pre-Funded Warrant) and one Warrant. The company is also registering up to 5,555,555 Class A Ordinary Shares underlying the Pre-Funded Warrants and up to 49,999,995 Class A Ordinary Shares underlying the Warrants, which include a 'zero exercise price' option that may result in dilution without cash proceeds. The filing highlights significant risks associated with its Variable Interest Entity (VIE) structure in China and evolving PRC regulatory landscape, including CSRC filing requirements and cybersecurity reviews.

Zhongchao Inc. is launching a best-efforts public offering of up to 5,555,555 Units, each priced at an assumed $2.16 and comprising one Class A Ordinary Share (or a Pre-Funded Warrant) and one Warrant. The offering could lead to the issuance of up to 5,555,555 Class A Ordinary Shares from Pre-Funded Warrants and up to 49,999,995 Class A Ordinary Shares from Warrants, which feature a zero exercise price option. The company highlights significant risks, including those related to its VIE structure, PRC regulatory uncertainties (CSRC filing, cybersecurity), and potential delisting due to the dilutive impact of the Warrants.