Core Viewpoint - SAIHEAT Limited has announced a reverse stock split of its ordinary shares at a ratio of 1-for-15, 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 15.8 million to about 1.05 million [2]. - The effective date for the reverse stock split is set for March 17, 2025, with shares trading under the existing ticker symbol "SAIH" [1]. - No fractional shares will be issued; entitlements to fractional shares will be rounded up to the nearest whole share [5]. Group 2: Corporate Actions - In conjunction with the reverse stock split, the Company amended its Memorandum of Association to proportionately reduce the number of authorized shares and adjust the par value of the post-split shares to $0.0015 each [3]. - The reverse stock split is part of the Company's strategy to maintain compliance with Nasdaq's listing standards, which require a minimum bid price of at least $1.00 per share [4]. Group 3: Company Overview - SAIHEAT Limited provides integrated energy services for next-generation data centers, focusing on thermal and power modules for cooling and power resource development [6]. - The Company was previously known as SAI.TECH Global Corporation and became publicly traded on Nasdaq through a merger in May 2022 [7].
SAIHEAT Limited Announces Effective Date of Reverse Stock Split