Cenntro Inc. Completes 1-for-60 Reverse Stock Split to Maintain Nasdaq Listing
CENN is trading near its 52-week low of $3.65 (12% above the low) on elevated volume (1.9× avg).
Summary
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.
Key Events · Corporate Governance and Compliance · CENN
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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.
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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.
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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.
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Fractional Shares Rounded Up
Any fractional shares resulting from the reverse stock split were rounded up to the next whole share.
Analysis · CENN · Manufacturing
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.
At the time of this filing, CENN was trading at $4.07 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $5.9M. The 52-week trading range was $3.65 to $66.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.