TD Holdings, Inc. (NASDAQ:GLG) (the “Company”), a commodities trading service provider in China, today announced that its common stock is expected to begin trading when the markets open on a reverse stock split-adjusted basis on August 17, 2022 under the existing trading symbol “GLG.”
The reverse stock split is primarily intended to bring the Company into compliance with the minimum bid price requirements for maintaining its listing on the Nasdaq Capital Market. The new CUSIP number following the reverse stock split will be 87250W202.
As a result of the reverse stock split, every five shares of the Company’s common stock issued and outstanding will be automatically reclassified into one new share of common stock. The reverse stock split will not modify any rights or preferences of the shares of the company’s common stock. No fractional shares will be issued because of the reverse stock split. Instead, any fractional shares that would have resulted from the reverse split will be rounded up to the next whole number.
Additional information about the reverse stock split can be found in the company’s definitive proxy statement filed with the Securities and Exchange Commission (the “SEC”) on August 1, 2022, which is available free of charge at the SEC’s website, www.sec.gov.
