Baiya International Group Inc. (NASDAQ: BIYA) completed a 1‑for‑25 reverse stock split of its ordinary shares, effective at 4:01 p.m. ET on Monday, December 29, 2025. The split reduced the number of shares outstanding from 29,644,605 to 1,185,784 and increased the par value from US$0.0001 to US$0.0025 per share. The new CUSIP for the split‑adjusted shares is G07064119, and the adjustment will be reflected in trading on Tuesday, December 30, 2025.
The reverse split follows a Nasdaq notification received on August 6, 2025, that Baiya’s closing bid price had fallen below the required $1.00 for 30 consecutive business days and that its market value of listed securities was below $35 million. Nasdaq granted the company a 180‑day compliance period ending February 2, 2026. The split is the company’s primary tool to raise its per‑share price above the $1.00 threshold and avoid delisting, a step that signals ongoing financial challenges.
Baiya’s first‑half fiscal 2025 results show a net loss of $4.7 million, a sharp increase from the $0.06 million loss reported for the same period last year. Basic and diluted net loss per common share rose to $0.385 from $0.006. The loss widened because operating expenses climbed by $4.9 million, while other expenses fell and gross profit increased modestly. The company’s cash position has also weakened, underscoring the need for the reverse split to maintain its Nasdaq listing.
The reverse split is a clear indicator of financial distress and liquidity concerns. While it may temporarily lift the share price above the minimum bid requirement, it also reduces the number of shares available for trading, potentially limiting liquidity and making the stock less attractive to investors. The move reflects the company’s struggle to generate sustainable earnings and maintain market confidence, and it may prompt further scrutiny from regulators and investors alike.
Investors reacted negatively to the earlier announcement of the reverse split on December 23, 2025, reflecting concerns about Baiya’s financial health and the implications of a reverse split for a company facing Nasdaq compliance issues. The market’s response underscores the broader perception that such corporate actions often signal deeper operational and financial challenges.
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