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CN Energy Group. Inc. (NASDAQ:CNEY) ("CNEY" or the "Company") is pleased to announce the approved 1-for-25 stock split of the Company's Class A ordinary shares with no par value, effective at 12:01 a.m. Eastern Time on May 19, 2025 (the "Reverse Stock Split"). The Class A ordinary shares will continue to be traded on the Nasdaq Capital Market on a split-adjusted basis beginning on May 19, 2025, under the Company's existing trading symbol "CNEY" with the new CUSIP number G2181K204.
The Reverse Stock Split is primarily intended to increase the market price per share of the Company's Class A ordinary shares to regain compliance with the minimum bid price required for continued listing on the Nasdaq Capital Market.
The Reverse Stock Split will reduce the number of Class A ordinary shares issued and outstanding from approximately 75.28 million to approximately 3.01 million. No fractional shares will be issued in connection with the Reverse Stock Split. Any amount of fractional shares will be rounded up to the next nearest number at the participant level.
Posted In: CNEY
