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NANJING, China - Ostin Technology Group Co., Ltd. (NASDAQ:OST), a China-based supplier of display modules and polarizers, announced Monday it will implement a 1-for-25 reverse share split of its ordinary shares. The announcement comes as the company’s stock trades at $0.12, having declined over 95% in the past six months, according to InvestingPro data.
The company’s Class A ordinary shares will begin trading on an adjusted basis on August 5, 2025, while maintaining the existing ticker symbol "OST" with a new CUSIP number G67927122.
The reverse split, which was approved by shareholders at a July 17 extraordinary general meeting, will reduce Ostin’s outstanding Class A ordinary shares from approximately 132.43 million to 5.29 million.
As part of the restructuring, Ostin has amended its Memorandum of Association to proportionately reduce the number of authorized shares and adjust the par value of post-split shares to $0.025 per share.
Founded in 2010, Ostin Technology Group designs and manufactures TFT-LCD display modules and polarizers primarily used in consumer electronics, outdoor LCD displays, and automotive applications.
The announcement was made in a company press release statement.
In other recent news, Ostin Technology Group Co., Ltd. has completed a 1-for-25 share consolidation, as approved by shareholders during an extraordinary general meeting in Nanjing, China. This decision was supported by 98.88% of the votes cast, aligning the company’s authorized share capital to 399,280,000 Class A ordinary shares, 640,000 Class B ordinary shares, and 80,000 preference shares. Additionally, Ostin Technology Group has secured approximately $5 million through a registered direct offering with a single institutional investor, involving the sale of 41,666,667 Class A ordinary shares. The offering is anticipated to close around July 1, 2025, pending standard closing conditions. The company also addressed recent stock price movements, stating there are no undisclosed material matters influencing these fluctuations. Ostin emphasized the importance of relying on official company statements and filings with the U.S. Securities and Exchange Commission. Furthermore, the company updated shareholder voting rights for its upcoming extraordinary general meeting. Only shareholders of record as of July 1, 2025, are eligible to participate in this meeting.
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