ZK International Group Co., Ltd. announced a 1-for-7 reverse split of its ordinary shares, approved by the Company's Board of Directors on January 14, 2025. The reverse stock split is intended to increase the per share trading price of the Company's ordinary shares. This action aims to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Stock Market.
Beginning on January 31, 2025, the Company's ordinary shares will commence trading on the NASDAQ Stock Market on an adjusted basis under the existing symbol 'ZKIN'. Following the reverse stock split, the Company's 36,147,625 issued and outstanding ordinary shares will be reduced to approximately 5,163,946 shares. No fractional shares will be issued, with any resulting fractions rounded up to the next whole number.
Registered shareholders holding shares in book-entry or through a bank, broker, or other nominee form are not required to take any action. Shareholders holding physical stock certificates will generally receive book-entry shares. The Company's transfer agent, Securities Transfer Corporation, will provide further instructions to affected shareholders.
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