Newegg Commerce announces twenty-to-one share combination

Newegg Commerce (NEGG) announced that its board of directors approved a twenty-to-one share combination of its common shares. The share combination was also approved by the controlling shareholders of the company by written consent. The company expects the share combination to become effective on or around April 7 at which time the company’s common shares will begin trading on a combined basis. The company’s common shares will trade under a new CUSIP number but will continue to trade on Nasdaq. The share combination is intended to enable the company to continue to meet minimum Nasdaq listing price per share requirements and will affect all shareholders proportionately. The share combination will not alter any shareholder’s percentage interest in the company, except for fractional shares created by the share combination, which will be exchanged for cash.