PETZ 1 for 20 R/S on 6/14.
TDH Holdings, Inc. Announces 1-for-20 Reverse Stock Split
June 10 2022 - 04:00PM
PR Newswire (US)
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QINGDAO, China, June 10, 2022 /PRNewswire/ -- TDH Holdings, Inc. (NASDAQ: PETZ) ("TDH" or the "Company"), a PRC-based company that specializes in the development, manufacturing and sales of pet food products in China and beyond, announced today that the Company's Board approved to effect a reverse stock split of the Company's common shares at the ratio of one-for-twenty with the market effective date of June 14, 2022. The objective of the reverse stock split is to enable the Company to regain compliance with NASDAQ Marketplace Rule 5550(a)(2) and maintain its listing on Nasdaq.
Beginning with the opening of trading on June 14, 2022, the Company's common shares will trade on the NASDAQ Capital Market on a split-adjusted basis, under the same symbol "PETZ" but under a new CUSIP Number, G87084110. As a result of the reverse stock split, each twenty common shares outstanding will automatically combine and convert to one issued and outstanding common share without any action on the part of the shareholder. No fractional shares will be issued because of the reverse stock split. Instead, any fractional shares that would have resulted from the reverse split will be rounded up to the next whole number. The reverse stock split will reduce the number of common shares issued and outstanding from approximately 126,260,157 to approximately 6,313,014 (subject to the rounding up for fractional shares). The authorized number of common shares will be reduced by the same one-for-twenty ratio from 1,000,000,000 to 50,000,000.
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