Shineco Announces 1-for-10 Reverse Stock Split to Regain Compliance with Nasdaq Minimum Bid Requirement

Core Viewpoint - Shineco, Inc. has announced a reverse stock split at a ratio of 1-for-10 to comply with Nasdaq's minimum bid price requirement of $1.00 for continued listing on The Nasdaq Capital Market [1][2]. Company Actions - The reverse stock split will take effect on February 16, 2024, with shares trading on a split-adjusted basis under the existing symbol "SISI" [1]. - Each stockholder's percentage ownership and voting power will remain largely unchanged post-split, with minor adjustments for fractional shares [2]. Operational Details - Transhare Corporation will act as the transfer and exchange agent for the reverse stock split, and registered shareholders will not need to take any action to receive their new shares [3]. - Stockholders holding shares in brokerage accounts will have their positions automatically adjusted without requiring any action [3]. Company Overview - Shineco, Inc. focuses on providing advanced healthcare products and services, aiming to improve quality of life through safe and efficient health solutions [4]. - The company has developed 33 vitro diagnostic reagents and related medical devices, in addition to producing and selling healthy foods [4].