Ostin Technology Group Co., Ltd. announced an update to the effective date of its previously approved 1-for-10 reverse share split. The effective date has been revised from December 26, 2024, to December 31, 2024.
The Company’s Class A ordinary shares will now begin trading on an adjusted basis, reflecting the reverse share split, on December 31, 2024, under the existing ticker symbol 'OST'. The new CUSIP number for the Class A ordinary shares remains G67927114.
This adjustment, approved by shareholders on November 25, 2024, aims to reduce the total number of outstanding Class A ordinary shares from approximately 18.1 million to approximately 1.81 million. The reverse split is part of the Company’s efforts to regain compliance with Nasdaq’s minimum bid price rule.
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