Elong Power Finalizes 1-for-80 Reverse Stock Split to Maintain Nasdaq Listing

summarizeSummary

Elong Power Holding Ltd. announced the final terms and effective date of its 1-for-80 reverse stock split, aiming to meet Nasdaq's minimum bid price requirement and avoid delisting.

check_boxKey Events · Corporate Governance and Compliance · ELPW

• 1-for-80 Reverse Stock Split Approved

  The Board of Directors approved a 1-for-80 reverse stock split (share consolidation) for both Class A and Class B ordinary shares.

• Effective Date Set for March 12, 2026

  The reverse stock split will become effective at the opening of the market on March 12, 2026, with trading on a post-split basis under the current symbol "ELPW" and a new CUSIP number G3016G129.

• Aims for Nasdaq Listing Compliance

  The primary objective of the reverse split is to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), which requires a minimum closing bid price of greater than $0.10.

• Significant Reduction in Outstanding Shares

  The split will reduce the number of outstanding Class A ordinary shares from approximately 113 million to 1.4 million, and Class B ordinary shares from approximately 361,090 to 4,514.

auto_awesomeAnalysis · ELPW · Manufacturing

Elong Power Holding Ltd. has officially announced the details and effective date of its 1-for-80 reverse stock split. This action is critical for the company to regain compliance with Nasdaq's minimum bid price requirement of $0.10, preventing a potential delisting. While a necessary step for continued exchange listing, reverse splits often signal underlying financial distress and can be viewed negatively by investors, as they do not address the fundamental business challenges that led to the low share price. The market will be watching if the post-split price can sustainably stay above the compliance threshold.