OIO Group Completes De Tomaso Deal, Initiates 1-for-3 Reverse Stock Split
OIO Group has completed its business combination with De Tomaso Automobili Holdings, making Norman Choi the controlling shareholder and incoming CEO and Chairman. The company will implement a 1-for-3 reverse stock split on April 24, 2026 to meet Nasdaq listing requirements.
1. Business Combination and Leadership Change
OIO Group completed its business combination with De Tomaso Automobili Holdings, resulting in Norman Choi becoming the controlling shareholder and designated CEO and Chairman. This change of control aligns the company under leadership with luxury automotive expertise and global expansion experience.
2. Strategic Growth Platform
The transaction establishes OIO as a platform to expand into premium, engineering-led industries by leveraging De Tomaso’s brand heritage and OIO’s Nasdaq-listed scalability. The combined entity aims to target high-margin, brand-driven sectors through disciplined capital deployment and value-accretive acquisitions.
3. Reverse Stock Split to Satisfy Listing Requirements
Effective April 24, 2026, OIO will implement a 1-for-3 reverse stock split to comply with Nasdaq minimum share price rules. This action adjusts the capital structure and share count to maintain listing compliance following the business combination.