ECD Automotive Design announced a 1-for-40 reverse stock split of its issued and outstanding common stock.
The reverse stock split will be effective at market opening time on September 18, 2025, to increase the per share trading price.
Shareholders do not need to take any action to receive the post-split shares.
Reverse Stock Split
ECD implemented a 1-for-40 reverse stock split to increase the per share trading price.
Shareholder Approval
The reverse stock split was approved by stockholders at the annual meeting held on July 22, 2025.
Share Reduction
The reverse stock split will reduce the outstanding shares from 59,091,136 to approximately 1,477,278 shares.
- The reverse stock split is aimed at satisfying the $1.00 minimum bid price requirement for continued listing on Nasdaq's Capital Market.
- No fractional shares will be issued as a result of the reverse stock split.
ECD's decision to implement a reverse stock split demonstrates its commitment to meeting Nasdaq's listing requirements and improving its per share trading price.