Core Viewpoint - Haoxi Health Technology Limited has announced a reverse share split of its ordinary shares at a ratio of 1-for-25, which was approved by shareholders and will take effect on January 27, 2025 [1][2]. Group 1: Reverse Share Split Details - The reverse share split will combine every 25 shares of Class A and Class B ordinary shares into one share, reducing the total outstanding Class A shares from approximately 53.29 million to about 2.13 million and Class B shares from approximately 17.27 million to about 0.69 million [2]. - The company's Articles and Memorandum of Association have been amended to proportionately reduce the number of authorized shares and adjust the par value of the post-reverse share split ordinary shares to $0.0025 per share [3]. - No fractional shares will be issued; instead, entitlements to fractional shares will be rounded up to the nearest whole share [3]. Group 2: Market Impact and Expectations - Following the reverse share split, the Class A ordinary shares are expected to trade at approximately twenty-five times the price per share prior to the split, although the company cannot guarantee that this price will be maintained [4]. - The new CUSIP number for the Class A ordinary shares will be G4290F118, and trading will commence on an adjusted basis on the Nasdaq Capital Market [1][2]. Group 3: Company Overview - Haoxi Health Technology Limited is an online marketing solution provider based in Beijing, China, focusing on the healthcare industry [6]. - The company's growth is driven by the rise of news feed ads and the rapid development of the healthcare sector, offering one-stop online marketing solutions, particularly in online short video marketing [6].
Haoxi Health Technology Limited Announces 1-for-25 Reverse Share Split