Cenntro Inc. Completes 1-for-60 Reverse Stock Split to Maintain Nasdaq Listing

summarizeSummary

Cenntro Inc. has completed its 1-for-60 reverse stock split, effective April 13, 2026, to meet Nasdaq's minimum bid price requirement and avoid delisting.

check_boxKey Events

• Reverse Stock Split Effective

  The 1-for-60 reverse stock split became effective on April 13, 2026, with trading on a split-adjusted basis commencing the same day.

• Authorized Shares Reduced

  The total authorized capital stock was reduced from 1.1 billion shares to 18.33 million shares, including common and preferred stock, following the split.

• Nasdaq Compliance Addressed

  The primary purpose of the reverse stock split is to regain compliance with Nasdaq's minimum $1.00 bid price requirement, addressing a delisting threat.

• Fractional Shares Rounded Up

  Any fractional shares resulting from the reverse stock split were rounded up to the next whole share.

auto_awesomeAnalysis

This 8-K formally announces the effectiveness of Cenntro Inc.'s 1-for-60 reverse stock split, which became effective on April 13, 2026. The split was undertaken to regain compliance with Nasdaq's minimum bid price requirement, a critical step for the company to maintain its stock exchange listing. The action significantly reduces the number of authorized and outstanding shares, aiming to increase the per-share price. This follows the initial announcement on April 9, 2026, and is a necessary measure given the company's recent financial performance and low market capitalization.