Cheer Holding Announces Share Consolidation of Ordinary Shares
BEIJING, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding,” “we” or the “Company”), a leading provider of next-generation mobile internet infrastructure and platform services, today announced that it intends to effect a share consolidation of its ordinary shares at a ratio of 1 post-split ordinary share for every 10 pre-split ordinary shares (the “Share Consolidation”) so that every ten (10) shares issued and outstanding will be combined into one (1) share. Any fractional share of a shareholder resulting from the Share Consolidation will be rounded up to the nearest whole number of shares. The Share Consolidation will become effective at 4:05 p.m. (New York time) on November 24, 2023 (the “Effective Time”).
- BEIJING, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding,” “we” or the “Company”), a leading provider of next-generation mobile internet infrastructure and platform services, today announced that it intends to effect a share consolidation of its ordinary shares at a ratio of 1 post-split ordinary share for every 10 pre-split ordinary shares (the “Share Consolidation”) so that every ten (10) shares issued and outstanding will be combined into one (1) share.
- Any fractional share of a shareholder resulting from the Share Consolidation will be rounded up to the nearest whole number of shares.
- The Share Consolidation will reduce the issued and outstanding number of ordinary shares of the Company from 100,384,466 shares to approximately 10,038,447 shares.
- In addition, the Company will be effecting a share increase immediately upon the effectiveness of the Share Consolidation, so as to maintain the same number of authorized ordinary shares before the Share Consolidation, which will continue to be 200,000,000 ordinary shares of a par value of US$0.001.