NewGenIvf Group approves reverse stock split and increases authorized shares
Investing.com
Published Jul 07, 2025 05:23PM ET
NewGenIvf Group Ltd (NASDAQ:NIVF) announced Monday that its board of directors approved a reverse stock split and an amendment to its memorandum and articles of association, according to a statement filed with the Securities and Exchange Commission.
On July 4, the company's board approved an amendment to increase the number of authorized shares from a maximum of 50,000,000 to an unlimited number, including unlimited Class A ordinary shares, unlimited Class B ordinary shares, and unlimited preferred shares. The amendment became effective on July 4 following its filing with the Registry of Corporate Affairs of the British Virgin Islands.
On July 5, the board approved a reverse stock split at a ratio of one-for-five for all issued and unissued shares, including Class A ordinary shares, Class B ordinary shares, and preferred shares. The company expects the reverse stock split to become effective on or around August 4, with its Class A ordinary shares beginning to trade on a post-split basis on the Nasdaq Capital Market on that date.
The reverse stock split is intended to help the company comply with the minimum bid price requirement of $1.00 per share for continued listing on Nasdaq, as set out in Nasdaq Listing Rule 5550(a)(2).
Following the reverse stock split, the number of outstanding Class A ordinary shares will be reduced from approximately 7,029,880 to about 1,405,976. Every five outstanding Class A ordinary shares will be combined into one post-split share. No fractional shares will be issued; instead, shareholders entitled to a fractional share will receive one full post-split share.
All options, warrants, and other convertible securities outstanding prior to the reverse stock split will be adjusted by dividing the number of shares into which they are exercisable or convertible by five, subject to rounding to the nearest whole share.
No amendment to the company’s memorandum and articles of association is required for the reverse stock split, as the par value remains nil and the number of authorized shares is now unlimited.
This information is based on a press release statement filed with the SEC.
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