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SHOUGUANG, China - Gulf Resources, Inc. (NASDAQ:GURE) announced Wednesday it will implement a 1-for-10 reverse stock split effective October 27, 2025, in an effort to regain compliance with Nasdaq's minimum bid price requirement. The announcement comes as the stock trades near its 52-week low of $0.50, having declined 24% over the past year according to InvestingPro data.
The company's common stock will continue trading on The Nasdaq Capital Market under the symbol "GURE" when markets open on October 27, though with a new CUSIP number: 40251W507.
The reverse split, authorized by stockholders at the company's annual meeting on September 9 and finalized by the board on October 10, will automatically convert every 10 shares of pre-split common stock into one new share. This will reduce Gulf Resources' outstanding shares from approximately 13.63 million to 1.36 million, while the number of authorized shares will remain unchanged.
Stockholders entitled to fractional shares will have their holdings rounded up to the nearest whole number. The split will also result in proportionate adjustments to exercise prices and share numbers in the company's equity plans.
Gulf Resources' transfer agent, Equiniti Trust Company, LLC, will serve as the exchange agent for the reverse split. Stockholders holding shares electronically in book-entry form will receive transaction notices indicating their post-split holdings, while those holding shares through brokers will have positions adjusted according to their brokers' processes.
The company, which describes itself as one of China's largest bromine producers, operates through four wholly-owned subsidiaries that manufacture chemical products used in various applications including oil and gas exploration, papermaking, and antibiotics materials.
According to the press release statement, Gulf Resources also produces crude salt and explores natural gas and brine resources in China.
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