Top Wealth Group Holding Limited announced on July 17, 2025, the approval of a 1-for-90 share consolidation for its Class A and Class B ordinary shares. The share consolidation is scheduled to become market effective with the opening of trading on July 21, 2025. Post-consolidation, the Class A Ordinary Shares will trade under the same symbol 'TWG' but with a new CUSIP number.
The primary objective of this share consolidation is to enable the company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2), which mandates a minimum bid price. Upon effectiveness, every 90 issued and outstanding ordinary shares will automatically be consolidated into one new ordinary share.
Fractional shares resulting from the consolidation will be rounded up to the next whole number. The company's board of directors approved the share consolidation on June 11, 2025, and shareholders approved it on April 8, 2025. This action affects all shareholders uniformly, without altering their percentage interest in the company's outstanding shares, aside from fractional share adjustments.
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