Ostin Technology Group Co., Ltd. announced that its 1-for-10 reverse share split will become effective on December 26, 2024. The Company’s Class A ordinary shares will begin trading on an adjusted basis, reflecting the reverse share split, on this date under the existing ticker symbol 'OST'.
The reverse share split was approved by the Company’s shareholders at an extraordinary general meeting held on November 25, 2024. This action is intended to help the Company regain compliance with Nasdaq Marketplace Rule 5550(a)(2) regarding the minimum bid price requirement.
Upon the effectiveness of the split, every ten shares of issued and outstanding Class A ordinary shares will be combined into one. This will reduce the total number of outstanding Class A ordinary shares from approximately 18.1 million to approximately 1.81 million, and the new CUSIP number will be G67927114.
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