Core Viewpoint - ZW Data Action Technologies Inc. has announced a reverse stock split at a ratio of 1-for-4, effective September 30, 2024, to comply with Nasdaq's minimum bid price requirement of $1.00 [1][4]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of authorized shares from 50,000,000 to 12,500,000 and the issued and outstanding shares will be correspondingly decreased [2]. - Each stockholder's shares will be converted automatically, with fractional shares rounded up to the nearest whole share, and no cash will be paid for fractional shares [3]. - The reverse stock split will not affect the par value of the common stock or the rights and privileges of stockholders, maintaining their percentage ownership and voting power [4]. Group 2: Stockholder Actions - Stockholders holding shares in electronic form will see the changes reflected automatically in their brokerage accounts, while those with paper certificates may request new certificates from the transfer agent [5]. Group 3: Company Overview - ZW Data Action Technologies Inc., established in 2003 and headquartered in Beijing, provides online advertising, precision marketing, and data analytics services, focusing on small and medium-sized enterprises in China [6].
ZW Data Action Technologies Inc. Announces Reverse Stock Split