TORONTO - Visionary Holdings Inc. (NASDAQ:GV), a Canadian-based private education provider, announced today its plan to consolidate its ordinary shares. The company will combine every fifteen pre-split shares into one post-split share, effective 12:01 a.m. EST on May 29, 2024.
This share consolidation aims to elevate the company's per-share trading price to maintain its listing on the Nasdaq Capital Market. The consolidation is expected to reduce the total number of issued and outstanding ordinary shares from 55,368,883 to approximately 3,691,259.
The company's shares will continue trading on Nasdaq under the ticker symbol "GV" and will begin trading on a post-consolidation basis when the market opens on May 29, 2024. The new CUSIP number for the ordinary shares after the consolidation will be 92838F200.
Visionary Holdings, headquartered in Toronto, specializes in education technology, including artificial intelligence and life sciences. The company has subsidiaries in Canada and market partners in China. It provides education services to Canadian and international students, aiming to enhance access to secondary, college, and vocational education through technological innovation.
The information in this article is based on a press release statement from Visionary Holdings Inc.
InvestingPro Insights
In light of Visionary Holdings Inc.'s recent announcement regarding its share consolidation, a closer look at the company's financial health and market performance through InvestingPro data provides investors with a more comprehensive understanding of its current position. As of the last twelve months leading up to Q2 2024, Visionary Holdings Inc. has a market capitalization of 11.56 million USD, reflecting its standing in the market.
The company has experienced significant revenue growth, with an impressive 197.4% increase over the last twelve months as of Q2 2024. This surge is also reflected in the quarterly figures, where revenue growth reached 165.72%. Despite the robust top-line expansion, the company's adjusted operating income remains in the negative at -0.73 million USD, indicating challenges in converting revenue to operational profitability.
One InvestingPro Tip suggests that the substantial revenue growth, when paired with a Price / Book ratio of 0.55, might attract investors looking for undervalued growth opportunities. Additionally, the InvestingPro Fair Value estimate stands at 0.51 USD, which could imply potential for price appreciation from the previous close price of 0.22 USD.
Investors interested in a deeper dive into Visionary Holdings Inc. can access a wealth of additional insights on InvestingPro, with more InvestingPro Tips available to guide investment decisions. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and unlock the full potential of your investment research.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.