X3 Holdings announces share consolidation on 30-to-1 basis

X3 Holdings (XTKG) approved a consolidation of its Class A ordinary shares on a 30-to-1 basis. The company’s Class A shares are expected to begin trading on a post consolidation basis on March 5. As a result of the consolidation, each 30 pre-consolidation Class A shares of the company will be automatically combined into one Class A share, without any action on the part of the holders, with par value of the Class A shares of the company being changed from $0.00003 per share to $0.0009 per share, and the company’s issued and outstanding Class A shares will be reduced from 54,238,270 to approximately 1,807,943. The company’s Class A shares will continue to trade on Nasdaq under the symbol “XTKG” under a new CUSIP number – G72007159.The Share Consolidation is intended to increase the market price per share of the company’s Class A shares to allow the company to maintain its Nasdaq listing.