EZGO Tech(US:EZGO) Prnewswire·2024-04-10 11:00Core Viewpoint - EZGO Technologies Ltd. has announced a reverse share split on a one-for-forty basis to increase the market price per share and maintain its Nasdaq listing [1][2]. Group 1: Reverse Share Split Details - The reverse share split will combine every forty pre-split ordinary shares into one ordinary share, changing the par value from $0.001 to $0.04 per share [2]. - Post-split, the number of issued and outstanding ordinary shares will decrease from 102,165,549 to approximately 2,554,139 [2]. - The ordinary shares will continue trading on Nasdaq under the symbol "EZGO" with a new CUSIP number G5279F110 [2]. Group 2: Shareholder Impact - No fractional shares will be issued; shareholders with fractional shares equal to one-half or more will receive a full ordinary share, while those with less than one-half will have their fractional shares canceled [3]. - The reverse share split does not require a vote from shareholders as per the laws of the British Virgin Islands [3]. Group 3: Company Overview - EZGO Technologies Ltd. focuses on short-distance transportation solutions, leveraging an IoT product and service platform, and operates two e-bicycle brands, "EZGO" and "Cenbird" [4]. - The company designs, manufactures, and sells two- and three-wheeled electric vehicles, intelligent robots, and electric vehicle accessories [4].