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GUANGZHOU, China - Top KingWin Ltd (NASDAQ:WAI) announced Thursday it will implement a 1-for-25 reverse share split of its outstanding class A ordinary shares, effective Monday, September 8, 2025. The company, currently trading at $0.15 with a market capitalization of $6.62 million, has seen its stock price decline by over 98% year-to-date, according to InvestingPro data.
The company’s shares will begin trading on a split-adjusted basis when markets open Monday on the Nasdaq Capital Market, maintaining the same WAI ticker symbol but with a new CUSIP number (G8923U129). Following the split, the ordinary shares will have a new par value of $0.0625 per share, up from the current $0.0025.
The reverse split aims to help the company regain compliance with Nasdaq’s minimum bid price requirement of $1.00 per share for continued listing. The move will reduce Top KingWin’s outstanding ordinary shares from approximately 47 million to 1.9 million.
No fractional shares will be issued, with all fractional interests rounded up to the nearest whole share. The split will also apply to ordinary shares issuable upon exercise of outstanding derivative securities, with proportionate adjustments to exercise prices.
The reverse split was approved by shareholders on August 14, 2025. VStock Transfer, LLC is serving as the exchange agent for the transaction.
Top KingWin provides corporate business training, corporate consulting, and advisory and transaction services primarily to entrepreneurs and executives of small and medium-sized enterprises in China, according to the company’s press release statement.
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