Ohmyhome Ltd Announces Effective Date of Reverse Stock Split

Core Viewpoint - Ohmyhome Ltd. has announced a reverse stock split of its ordinary shares at a ratio of 1-for-10, aimed at complying with Nasdaq's minimum bid price requirement [1][4]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the total number of outstanding ordinary shares from approximately 24 million to about 2.4 million [2]. - The effective date for the reverse stock split is March 10, 2025, and the new par value of the shares will be adjusted to $0.01 per share [3]. - Outstanding warrants and options will be adjusted proportionately in accordance with the reverse stock split, with no fractional shares issued [5]. Group 2: Compliance and Corporate Actions - The reverse stock split is part of Ohmyhome's strategy to meet Nasdaq's requirement of maintaining a minimum bid price of at least $1.00 per share [4]. - The Company has amended its Memorandum of Association to proportionately reduce the number of authorized shares for issuance [3]. Group 3: Company Overview - Ohmyhome is a property technology platform in Singapore, providing end-to-end property solutions including brokerage, renovation, and property management services [7]. - Since its launch in 2016, Ohmyhome has transacted over 15,500 properties and manages approximately 9,300 units as of October 29, 2024 [7].