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In a move to restructure its capital, Treasure Global Inc. has announced a 1-for-50 reverse stock split of its common stock, effective as of today. The micro-cap company, currently valued at just $2.99 million according to InvestingPro data, has seen its stock price decline by nearly 99% over the past year. The adjustment was previously ratified by the company's Board of Directors and its shareholders, who had authorized a reverse split ratio within the range of 1-for-2 to 1-for-50. The final ratio was determined by the Board, and the Certificate of Amendment to the Certificate of Incorporation was filed with the State of Delaware on April 2, 2025.
As the market opened today, Treasure Global's common stock began trading on The Nasdaq Stock Market LLC under the adjusted terms. Despite the reverse stock split, the company's authorized shares and the par value per share remain unchanged. InvestingPro analysis reveals the company's financial health score is currently rated as WEAK, with 15 additional key insights available to subscribers. The restructuring means that every 50 shares of the issued and outstanding common stock prior to today have been combined into one share. The company has ensured that all stockholders are treated uniformly, with fractional shares rounded up to the nearest whole share, thus not affecting any stockholder's percentage interest in the company's equity.
The ticker symbol for Treasure Global will continue to be "TGL," although the common stock will have a new CUSIP number post-split: 89458T304. This strategic move is detailed in the company's recent SEC filing, which includes the Certificate of Amendment as an exhibit, providing the formal documentation for the reverse stock split.
This corporate action by Treasure Global, a company categorized under the Business Services sector and headquartered in New York, is part of its ongoing efforts to manage its financial and equity structure. While the company maintains a healthy current ratio of 3.08 and holds more cash than debt, InvestingPro data indicates it's rapidly burning through cash reserves. The information regarding this event is based on a press release statement filed with the SEC.
In other recent news, Treasure Global Inc has announced a 1-for-50 reverse stock split of its common stock. This decision, approved by stockholders on October 23, 2024, aims to comply with Nasdaq's minimum bid price requirement of $1.00. The reverse stock split will reduce the total number of outstanding shares from 81,426,799 to approximately 1,628,536 shares. No fractional shares will be issued, as any fractional amounts will be rounded up to the nearest whole number. The company's stock will continue to trade under the ticker symbol "TGL" on the Nasdaq Capital Market. Vstock Transfer, LLC will manage the reverse stock split process, ensuring a seamless transition for stockholders. Treasure Global Inc has stated that there is no guarantee it will meet the minimum bid price requirement following the split.
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