Ebang International Holdings Inc. to Effect Reverse Stock Split
November 21 2022 - 9:00AM
Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,”
“we” or “our”), a global blockchain technology company, today
announced that the Company’s shareholders have approved the
1-for-30 reverse split of its issued and outstanding ordinary
shares (the "Reverse Stock Split") at the Company’s extraordinary
general meeting on November 20, 2022 at 8:00 a.m. (Singapore Time).
The Reverse Stock Split will become effective after the close of
trading day on Monday, November 21, 2022 (the "Effective Date"),
which will help ensure that the Company’s Class A ordinary shares
will continue to be listed on The Nasdaq Global Select Market. The
Company anticipates that its Class A ordinary shares will begin
trading on a split-adjusted basis when the market opens on Tuesday,
November 22, 2022.
The Reverse Stock Split is primarily intended to
bring the Company into compliance with the minimum bid price
requirement for maintaining its listing on The Nasdaq Global Select
Market. The Company's Class A ordinary shares will continue to
trade on The Nasdaq Global Select Market under the existing symbol
"EBON" and the new CUSIP number for the Company’s Class A ordinary
shares following the Reverse Stock Split will be G3R33A 205.
Additional information about the Reverse Stock
Split can be found in the Company's proxy statement attached as
Exhibit 99.1 to the Form 6-K furnished with the U.S. Securities and
Exchange Commission (the "SEC") on October 28, 2022, which is
available free of charge at the SEC's website, www.sec.gov.
Information for Shareholders
VStock Transfer, LLC is acting as exchange agent
for the Class A ordinary shares Reverse Stock Split and will send
instructions to any shareholders of record who hold stock
certificates regarding the exchange of certificates for Class A
ordinary shares. The Company’s corporate administrator for the
Class B ordinary shares will update the register of members of the
Company’s Class B ordinary shares to reflect the Reverse Stock
Split. Shareholders who hold their shares in brokerage accounts or
"street name" are not required to take any action to effect the
exchange of their shares following the Reverse Stock Split. VStock
Transfer, LLC may be reached for questions at (212) 828-8436. The
Reverse Stock Split will also have a proportionate effect on all
other options, warrants and other convertible securities
outstanding as of such effective date of the Reverse Stock
Split.
About Ebang International Holdings
Inc.
Ebang International Holdings Inc. is a global
blockchain technology company with strong application-specific
integrated circuit (ASIC) chip design capability. With years of
industry experience and expertise in ASIC chip design, it has
become a global bitcoin mining machine producer with steady access
to wafer foundry capacity. With its licensed and registered
entities in various jurisdictions, the Company intends to launch a
professional, convenient and innovative digital asset financial
service platform to expand into the upstream and the downstream of
blockchain and cryptocurrency industry value chain. For more
information, please visit
https://ir.ebang.com/. Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. Certain
statements contained herein are “forward-looking” statements within
the meaning of the applicable securities laws and regulations.
Generally, these statements can be identified by the use of words
such as “aim,” “anticipate,” “believe,” “commit,” “continue,”
“could,” “estimate,” “expect,” “forecast,” “intend,” “may,”
“outlook,” “plan,” “potential,” “predict,” “project,” “remain,”
“should,” “will,” “would,” and similar expressions intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements include, but are not limited to,
statements regarding our future operating results and financial
position, our business strategy and plans, expectations relating to
our industry, the regulatory environment, market conditions, trends
and growth, expectations relating to customer behaviors and
preferences, our market position and potential market
opportunities, and our objectives for future operations. Such
statements are not historical facts, and are based upon the
Company’s current beliefs, plans and expectations, and the current
market and operating conditions. Forward-looking statements involve
inherent known or unknown risks, uncertainties and other factors,
all of which are difficult to predict and many of which are beyond
the Company’s control, which may cause the Company’s actual
results, performance and achievements to differ materially from
those contained in any forward-looking statement. These risks and
uncertainties include our ability to successfully execute our
business and growth strategy and maintain future profitability,
market acceptance of our products and services, our ability to
further penetrate our existing customer base and expand our
customer base, our ability to develop new products and services,
our ability to expand internationally, the success of any
acquisitions or investments that we make, the efforts of increased
competition in our markets, our ability to stay in compliance with
applicable laws and regulations, market conditions across the
cryptoeconomy and general market, political and economic
conditions. Further information regarding these and other risks,
uncertainties or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. These forward-looking
statements are made only as of the date indicated, and the Company
undertakes no obligation to update or revise the information
contained in any forward-looking statements as a result of new
information, future events or otherwise, except as required under
applicable law.
Investor Relations Contact
For investor and media inquiries, please contact:
Ebang International Holdings Inc.Email: ir@ebang.com
Ascent Investor Relations LLCMs. Tina XiaoTel: (917)
609-0333Email: tina.xiao@ascent-ir.com
Ebang (NASDAQ:EBON)
Historical Stock Chart
From Sep 2024 to Oct 2024
Ebang (NASDAQ:EBON)
Historical Stock Chart
From Oct 2023 to Oct 2024