Global Mofy AI Limited: effective date of reverse stock split

Global Mofy AI Limited (Nasdaq: GMM) has announced that its reverse stock split became effective on November 26, 2024. The 1-for-15 reverse stock split was approved by shareholders at a special meeting on November 1, 2024, and is intended to bring the company’s stock into compliance with Nasdaq’s minimum bid price requirement of $1.00 per share.

Under the terms of the reverse stock split, every 15 outstanding Class A ordinary shares were consolidated into one share, reducing the total number of shares from approximately 42.2 million to around 2.8 million. The company also amended its Memorandum of Association to adjust the par value of the shares to $0.00003 per share and reduce the number of authorized shares proportionally.

Outstanding warrants and options were adjusted accordingly, with no fractional shares issued. Shareholders who would have received fractional shares had their holdings rounded up to the nearest whole share. The new CUSIP number for the company’s Class A ordinary shares is G3937M114.

The reverse stock split is part of the company’s broader strategy to maintain its listing on the Nasdaq Capital Market. The company’s shares will continue to trade under the ticker symbol “GMM”. Investors are advised to review the company’s filings with the SEC for additional details.