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ChargePoint (NYSE:CHPT), a leading provider of EV charging solutions, announced that today the Company implemented a reverse stock split of its common stock at a ratio of 1-for-20, which will be reflected at market open. The reverse stock split is intended to increase the market price per share of the Company's common stock and help the Company comply with the minimum trading price criteria for continued listing on the New York Stock Exchange (the "NYSE").
On July 8, 2025, ChargePoint shareholders approved a reverse stock split ratio within a range of 1-for-2 to 1-for-30 at the Company's 2025 Annual Meeting of Stockholders (the "Annual Meeting") and authorized the Company's Nominating and Corporate Governance Committee to determine and execute the final ratio. The Company's Nominating and Corporate Governance Committee subsequently approved the final reverse split ratio of 1-for-20.
The reverse stock split will not modify any rights or preferences of the Company's common stock. The trading symbol for the Company's common stock will remain "CHPT." The new CUSIP number for the Company's common stock following the reverse stock split will be 15961R 303 and the new ISIN number will be US15961R3030.
Effective as of 12:01 am Eastern Time today, July 28, 2025, every twenty (20) issued and outstanding shares of the Company's common stock have been converted into one share of the Company's common stock.
The reverse stock split will affect all shareholders uniformly and will not affect any shareholder's percentage ownership interest in the Company (except to the extent that the reverse stock split would result in any of the shareholders owning a fractional interest). Shareholders who otherwise would be entitled to receive fractional shares will receive a cash payment in lieu of such fractional shares.
Stockholders who hold their shares in "street name" that is through a brokerage firm, bank, dealer or other similar organization, will have their positions automatically adjusted to reflect the reverse stock split, subject to each broker's particular processes, and do not need to take any action in connection with the reverse stock split. Stockholders of record will be receiving information from Continental Stock Transfer & Trust Company, the Company's transfer agent, regarding their stock ownership following the reverse stock split.
Additional information regarding the reverse stock split and other matters voted on at the Annual Meeting can be found in the Form 8-K filed with the U.S. Securities and Exchange Commission on July 9, 2025, and on ChargePoint's Investor Relations website at investors.chargepoint.com.
Posted In: CHPT
