Nano Labs Approves 1-For-10 Share Consolidation; Authorized Share Capital Set At $50K, Comprising 12,141,093 Class A Ordinary Shares, 2,858,908 Class B Ordinary Shares, And 10M Shares Of Other Classes
Portfolio Pulse from Benzinga Newsdesk
Nano Labs Ltd has announced a 1-for-10 share consolidation, effective November 3, 2024, with a market effective date of November 4, 2024. The company's authorized share capital is set at $50,000, comprising various classes of shares. The AGM also approved amendments to the company's memorandum and articles of association and the appointment of MaloneBailey, LLP as the independent auditor for 2024.
October 25, 2024 | 8:34 pm
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Nano Labs Ltd has approved a 1-for-10 share consolidation, which will be effective on November 3, 2024, with a market effective date of November 4, 2024. This action will reduce the number of shares outstanding, potentially impacting the stock price.
The share consolidation will reduce the number of shares outstanding, which can lead to a higher stock price per share if market capitalization remains constant. However, the actual impact on the stock price will depend on market perception and other factors. The consolidation is a significant corporate action, hence the high importance and relevance scores.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100