Singularity Future Technology (SGLY) has released an update.
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Singularity Future Technology Ltd. implemented a 1-for-10 reverse stock split, with the adjusted trading commencing on The Nasdaq Stock Market from February 12, 2024. This strategic move consolidated every 10 shares into one, aiming to boost the per-share trading price and meet Nasdaq’s minimum bid price requirement. The reverse split, previously approved by stockholders and the Board of Directors, maintains the total authorized shares unchanged, with fractional shares rounded up to whole numbers, ensuring the company’s stock continues trading under the ticker “SGLY”.
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