- ZW Data Action Technologies ( NASDAQ: CNET ) said its board has approved a 1-for-5 reverse stock split, effective Jan. 18.
- The company will begin trading on a split-adjusted basis at market open on Jan. 20, upon Nasdaq's approval.
- The new CUSIP number following the reverse stock split will be 98880R 208.
- The reverse stock, par value $0.001 per share, is expected to decrease the company's shares to 20M from 100M.
- The event is intended to help the company regain compliance with Nasdaq's $1.00 minimum bid price requirement.
- Source: Press Release
For further details see:
ZW Data Action Technologies to effect 1-for-5 reverse stock split