Baosheng Media announces 6-to-1 share consolidation

Baosheng Media Group plans to effect a share consolidation of six ordinary shares with par value of $0.0016 per share each in the Company’s issued and unissued share capital into one ordinary share with par value of $0.0096. As a result of the Share Consolidation, each six pre-consolidation ordinary shares outstanding will automatically combine and convert to one issued and outstanding ordinary share without any action on the part of the shareholders. The Share Consolidation will be effective on March 21, 2023. Beginning with the opening of trading on March 22, 2023, U.S. Eastern time, the Company’s ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol "BAOS" but under a new CUSIP number of G08908 124. No fractional shares will be issued in connection with the Share Consolidation. All fractional shares will be rounded up to the whole number of shares. Immediately following the Share Consolidation, the authorized share capital of the Company will be $60,000 divided into 6,250,000 ordinary shares of par value of $0.0096 each.