DCX Shareholders Approve 160-for-1 Reverse Split and Capital Reorganization

summarizeSummary

DCX shareholders approved a 160-for-1 reverse stock split and a capital reorganization that increases authorized shares to 3 billion. The consolidation is effective upon Nasdaq confirmation.

check_boxKey Events · Corporate Governance and Compliance · DCX

• 160-for-1 Reverse Split Approved

  Shareholders approved a 160-for-1 share consolidation of Class A and Class B ordinary shares, reducing outstanding shares from approximately 351.6 million to about 2.2 million.

• Authorized Capital Increased to 3B Shares

  Following the consolidation, authorized share capital is increased from US$300,000 to US$48,000,000, divided into 3,000,000,000 shares of par value US$0.016 each, creating substantial headroom for future issuance.

• Capital Reduction and Reorganization

  The par value of each issued share will be reduced from US$0.016 back to US$0.0001, with the credit transferred to a distributable reserve, followed by a sub-division of authorized but unissued shares.

• Effective Date Pending Nasdaq Confirmation

  The Share Consolidation becomes effective at 5:00 p.m. (Eastern Time) on the date confirmed by The Nasdaq Stock Market LLC, or has otherwise raised no objection to.

auto_awesomeAnalysis · DCX · Manufacturing

At the September 3 EGM, shareholders approved a 160-for-1 reverse stock split and a complex capital reorganization. The consolidation will reduce the outstanding share count from roughly 351.6 million to about 2.2 million shares, while the authorized capital is simultaneously increased to 3 billion shares at a higher par value. This is a critical step to regain Nasdaq compliance and provides the company with substantial headroom for future issuance, but the mechanics also create a large authorized share pool that could support significant future dilution.