EZGO Technologies announces 1-for-150 reverse share split

EZGO Technologies (EZGO) announced that on May 6, its board of directors approved a reverse split of its ordinary shares on a one-for-one-hundred and fifty basis. The company’s ordinary shares will begin trading on a post-split basis on May 19. As a result of the Reverse Share Split, every one-hundred and fifty issued ordinary shares of the company will be automatically combined into one issued ordinary share, with fractional shares rounded to the nearest whole share, and without any action required on the part of the shareholders. Following the Reverse Share Split, the total number of issued and outstanding ordinary shares will be reduced from 345,884,745 to approximately 2,305,899. The company’s ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol “EZGO,” under a new CUSIP number – G5279F300. The Reverse Share Split is intended to increase the market price per share of the company’s ordinary shares to allow the company to maintain compliance with Nasdaq continued listing requirements.