Smart Powerr Announces 1-for-10 Reverse Stock Split, Cuts Shares to 2.75M
CREG•Smart Powerr will implement a 1-for-10 reverse stock split combining every ten shares into one on June 15, 2026, with post-split trading beginning June 16 under new CUSIP 168913507. The split will reduce outstanding shares from approximately 27.5 million to 2.75 million and round up fractional shares to full shares.
1. Reverse Split Mechanics
Smart Powerr will combine every ten issued and outstanding common shares into one share effective after market close on June 15, 2026, with the new CUSIP 168913507. Trading on a post-split basis will begin on June 16, 2026.
2. Share Count Reduction
The reverse split will decrease the total outstanding share count from approximately 27.5 million to about 2.75 million. Any fractional shares resulting from the split will be rounded up to the nearest whole share.
3. Nasdaq Compliance Objective and Risks
This corporate action aims to satisfy Nasdaq Capital Market's minimum bid price requirement for continued listing. There is no assurance that share price will remain above the minimum threshold or that compliance can be maintained.
4. Impact on Equity Instruments
Outstanding stock options and warrants will be adjusted on a 1-for-10 basis, reducing the number of shares issuable upon exercise and proportionally increasing exercise prices. All equity holders will see no change in their pro rata ownership percentages except for fractional share adjustments.
