getmoreshares
9 months ago
RS info 1:50 effective 10.30 SHENZHEN, China, Oct. 27, 2023 /PRNewswire/ -- BAIYU Holdings, Inc. (formerly TD Holdings, Inc.) (Nasdaq: GLG) (the "Company"), a commodities trading service and provider in China, today announced that it plans to change its name from "TD Holdings, Inc." to "BAIYU Holdings, Inc.", its ticker symbol from "GLG" to "BYU", and to effect a 1-for-50 reverse stock split of its shares of common stock, par value $0.001. The expected marketplace effective date for the name and ticker change is October 30, 2023. The Company's common stock is expected to begin trading when the markets open on a reverse stock split-adjusted basis under the new name "BAIYU Holdings, Inc." and the new ticker symbol "BYU" on October 30, 2023
PennyPusher786
9 months ago
The Reverse Split does not affect the Company’s authorized shares of stock (which will remain at 650,000,000, including 600,000,000 shares of common stock and 50,000,000 shares of preferred stock) and will not change the par value of the stock (which will remain at $0.001 per share).
Why the F would I buy a stock which will reverse split by 50 but still maintain 600 million Authorized shares of Common shares...
How the F does that make sense lol......
This was a nice buy at .06 cents though
TRADER99
9 months ago
Well...1-50 coming...might jump in after for a quick scalp 😏
" approved an amendment (the “Reverse Split Amendment”) to our Certificate of Incorporation to effect a reverse stock split of our issued and outstanding common stock at a ratio of one-for-twenty to one-for-fifty immediately following the reverse split (the “Reverse Split”), at any time prior to October 30, 2023, with the final decision of whether to proceed with Reverse Split and the exact ratio to be set at a whole number within this range, as determined by our Board in its sole discretion; and
(ii) approved an amendment (the “Name Change Amendment”, and together with the Reverse Split Amendment, the “Charter Amendments”) to our Certificate of Incorporation to change the Company’s name to BAIYU Holdings, Inc. (the “Name Change”), with the final decision of whether to proceed with the Name Change and the timing for implementing the Name Change to be determined by the Board in its sole discretion".