ReTo Eco-Solutions, Inc. (Nasdaq: RETO) (“ReTo” or the “Company“), a manufacturer of equipment for production of eco-friendly materials in China, today announced that on February 11, 2025, its board of directors approved a combination of its Class A shares on a ten-to-one basis (the “Share Combination“). The Company’s Class A shares will begin trading on a post combination basis on March 7, 2025.
As a result of the Share Combination, each ten (10) pre-combination Class A shares of the Company will be automatically combined into one (1) Class A share without any action on the part of the holders, with par value of the Class A shares of the Company being changed from $0.1 per share to $1.0 per share, and the Company’s issued and outstanding Class A shares will be reduced from 19,352,636 to approximately 1,935,264. The Company’s Class A shares will continue to trade on the Nasdaq Capital Market (“Nasdaq“) under the symbol “RETO” under a new CUSIP number – G75271307. The Share Combination is intended to increase the market price per share of the Company’s Class A shares to allow the Company to maintain its Nasdaq listing.
No fractional shares will be issued as a result of the Share Combination. Shareholders who otherwise would be entitled to a fractional share because they hold a number of Class A shares not evenly divisible by ten will automatically be entitled to receive an additional share of the Company’s Class A shares.
The Share Combination will not be submitted to a vote of the Company’s shareholders as a vote is not required under the laws of the British Virgin Islands.
The Company’s transfer agent, VStock Transfer, LLC, will act as the exchange agent. Adjustments made to Class A shares represented by physical stock certificates can be made upon surrender of the certificate to the transfer agent. Please contact VStock Transfer, LLC for further information at (212) 828-8436.
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