Connexa Sports Technology将实施1比20的反向股票分割

2024-06-18 04:09

Connexa Sports Technologies (NASDAQ:YYAI) said on Monday that the sports company is submitting an application to implement a 1-for-20 reverse stock split to remedy a pending Nasdaq delisting notice.
The share consolidation is expected to be effective June 28 morning.
The shareholders had approved the proposed reverse stock split at the company's May 15 annual general meeting.
After Nasdaq approval, the June 11 delisting notice should be withdrawn, the company said.
There will be no further need for a hearing and Connexa will regain compliance with the stock exchange's rules, Connexa said.
"The company is in the process of Yuanyu Enterprise Management effecting a change in control, which will result in the Slinger Bag business being transferred to a private company," said CEO Mike Ballardie.
"It is unfortunate that this process, including the shareholder-approved 1-for-20 reverse split, has not been completed ahead of the bid price compliance deadline, resulting in the receipt of a delisting notice," said Ballardie.
"However, the reverse split is now expected to take place in the coming days, subject to Nasdaq approval, and once complete will result in our bid price requirement once again being met," the CEO said.
Source: Press Release

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