LZ Technology Holdings Board Approves 1-For-20 Reverse Share Split Of Issued And Unissued Class A Ordinary Shares And Class B Ordinary Shares
LZ LZMH | 0.00 |
LZ Technology Holdings Limited (NASDAQ:LZMH, the ", Company", ))), today announced that the shareholders and the board of directors of the Company approved a one-for-twenty reverse share split of the Company's issued and unissued Class A ordinary shares (the "Class A Ordinary Shares") and Class B ordinary shares (the "Class B Ordinary Shares"). Beginning May 22, 2026, the Company's Class B Ordinary Shares will be trading on a split-adjusted basis under the same symbol "LZMH" but with a new CUSIP number, G57Y3D117, and a new par value of US$0.0005 per share.
As a result of the reverse share split, each twenty ordinary shares outstanding will automatically combine and convert to one issued and outstanding ordinary share without any action on the part of shareholders who hold their shares in brokerage accounts or "street name." Shareholders holding certificates of ordinary shares are expected to receive instructions from the Company's transfer agent, Transhare Corporation, regarding procedures for exchanging share certificates. No fractional shares will be issued as a result of the reverse share split, and instead, all such fractional shares resulting from the reverse share split will be rounded up to the nearest whole share.
The reverse share split is intended to increase the per share trading price of the Class B Ordinary Shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Stock Market. Prior to the reverse share split, the Company has 22,500,000 Class A Ordinary Shares and 157,070,000 Class B Ordinary Shares issued and outstanding. Following the reverse share split, the Company will have approximately 1,125,000 Class A Ordinary Shares and 7,853,500 Class B Ordinary Shares issued and outstanding, and the Company will have 160,000,000 authorized Class A Ordinary Shares and 3,760,000,000 authorized Class B Ordinary Shares.
