Global Mofy AI Limited announced on November 22, 2024, that it has resolved to effect a reverse stock split of the company’s ordinary shares, with the split ratio set at 1-for-15. This action was approved by the company’s shareholders at a special meeting held on November 1, 2024.
The Class A ordinary shares are scheduled to begin trading on an adjusted basis, reflecting the reverse stock split, on November 26, 2024, under the existing ticker symbol “GMM.” This adjustment will reduce the total number of outstanding ordinary shares from approximately 42.2 million to approximately 2.8 million.
The reverse stock split is part of Global Mofy’s efforts to bring its stock into compliance with the minimum bid price requirement for maintaining the listing of its Common Stock on the Nasdaq Capital Market, which requires a minimum bid price of at least $1.00 per share.
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