Inno Holdings announces 1-for-10 reverse stock split

Inno Holdings’ board of directors approved a reverse stock split of Inno’s common stock, no par value, at a ratio of 1-for-10. The Reverse Stock Split is expected to become effective immediately after the close of trading on the Nasdaq Capital Market on October 9, 2024, and Inno’s Common Stock is expected to begin trading on the Nasdaq on a split-adjusted basis at the opening of trading on October 10, 2024, under the existing ticker symbol “INHD“. The Company filed an amendment to its Certificate of formation on October 8, 2024, to implement the Reverse Stock Split as of the Effective Time. The primary goal of the Reverse Stock Split is to increase the per share market price of the Common Stock to regain compliance with the minimum $1.00 average closing price requirement for continued listing on the Nasdaq.