Chanson Seeks Shareholder Nod for 100-for-1 Reverse Split and Trillion-Share Authorization Ahead of October 26 Vote

summarizeSummary

An extraordinary general meeting has been called for October 26, 2026 to vote on a 100-for-1 reverse split and a massive increase in authorized share capital from 41.1M to 41.1T Class A shares.

check_boxKey Events · Corporate Governance and Compliance · CHSN

• 100-for-1 Reverse Split Proposed

  Every 100 Class A and Class B ordinary shares would consolidate into one share, effective 10 clear days after the capital reduction or a later Nasdaq-approved date.

• Authorized Shares Jump to 41.1 Trillion

  Proposal No. 1 increases authorized Class A shares from 41.1 million to 41.1 trillion and Class B from 150,000 to 150 billion, creating enormous headroom for future issuance.

• Par Value Cut to Near Zero

  The capital reduction lowers par value from US$0.01 to US$0.000000001 per share, with the credit transferred to a distributable reserve usable to offset accumulated losses.

• EGM Set for October 26, 2026

  Record date is September 28, 2026. Ordinary resolutions need a simple majority; special resolutions need two-thirds. Board recommends voting FOR all six proposals.

auto_awesomeAnalysis · CHSN · Manufacturing

Shareholders are being asked to approve a 100-for-1 reverse split of both share classes, paired with a staggering increase in authorized share capital from 41.1 million to 41.1 trillion Class A shares. The reverse split is a classic Nasdaq minimum-bid compliance move for a stock trading at $1.15, but the simultaneous trillion-share authorization signals the board wants maximum headroom for future issuance — including the existing $219M ATM program and any new placements. The capital reduction step also creates a distributable reserve that can be used to offset accumulated losses, a balance-sheet cleanup that precedes the consolidation. Shareholders vote October 26, 2026; the board recommends FOR all six proposals.