INNO Holdings Inc (INHD)

[georgie18]

INHD...$5.23...Post Split 1/10...🥳...

georgie18

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Wednesday, October 09, 2024 10:04:34 AM

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INHD....59...🥳...BROOKSHIRE, TX / ACCESSWIRE / October 8, 2024 / Inno Holdings Inc. ("Inno" or the "Company") (Nasdaq Capital Market:INHD), an innovative building-technology company with a mission to transform the construction industry with our proprietary cold-formed steel-framing technology and other building innovations, today announced that the Company's board of directors (the "Board") approved a reverse stock split (the "Reverse Stock Split") of Inno's common stock, no par value (the "Common Stock"), at a ratio of 1-for-10 (the "Reverse Stock Split Ratio"). The Reverse Stock Split is expected to become effective immediately after the close of trading on the Nasdaq Capital Market (the "Nasdaq") on October 9, 2024 (the "Effective Time"), and Inno's Common Stock is expected to begin trading on the Nasdaq on a split-adjusted basis at the opening of trading on October 10, 2024, under the existing ticker symbol "INHD".

The Company filed an amendment to its Certificate of formation (the "Charter") on October 8, 2024, to implement the Reverse Stock Split as of the Effective Time. The primary goal of the Reverse Stock Split is to increase the per share market price of the Common Stock to regain compliance with the minimum $1.00 average closing price requirement for continued listing on the Nasdaq.