Mint announces 1-for-10 reverse stock split

Mint (MIMI) announced that it is implementing a reverse stock split of all of the company’s issued and unissued shares, including the Class A ordinary shares with no par value and Class B ordinary shares with no par value, at an exchange ratio of one share for 10 shares. The reverse stock split was approved by the company’s board of directors on March 31. The reverse stock split is intended to increase the per share trading price of the company’s Class A ordinary shares to satisfy the $1.00 minimum bid price requirement for continued listing of the Class A ordinary shares on Nasdaq.