UTime (WTO) announced that it will implement a reverse stock split of its common shares at a ratio of 1-for-100, effective 12:01 a.m. Eastern Time on November 21. UTime’s Class A ordinary shares will begin trading on Nasdaq on a split-adjusted basis at market open on November 21. The reverse split is intended to increase the per-share trading price of UTime’s Class A ordinary shares to help the company regain compliance with Nasdaq’s minimum bid price requirement and better position the stock for long-term growth and institutional participation.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WTO:
- UTime Limited Announces Reverse Stock Split to Regain Nasdaq Compliance
- UTime Limited Expands Global Reach of Smart Wearables
- UTime actively expands global smart wearable device market
- UTime Limited Advances AI in Health Data Analysis
- UTime explores application of AI technology in health data analysis