Cheer Holding, Inc. announced the results of its 2025 Annual General Meeting held on May 12, 2025. Shareholders re-elected Mr. Ke Chen as a Class III director until the 2028 annual general meeting and ratified the appointment of Enrome LLC as the independent registered public accounting firm for the financial year ending December 31, 2025.
A significant resolution approved by shareholders was the increase in the number of authorized Class A ordinary shares from 200,000,000 to 500,000,000. This expansion provides the company with greater flexibility for future equity financing, strategic acquisitions, or other corporate purposes that may require issuing new shares.
Shareholders also approved authorizing the board of directors to implement a share consolidation, or reverse stock split, at its discretion. The board is empowered to select a ratio of 1-for-10, 1-for-25, or 1-for-50, which could be utilized to increase the per-share trading price and potentially help maintain compliance with Nasdaq listing standards.
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