MicroAlgo Inc., a Central processing algorithm technology service provider, has successfully conducted its 2024 Extraordinary General Meeting, resulting in a shareholder-approved reverse stock split. The consolidation will transform every ten existing shares into one, aiming to meet NASDAQ’s minimum share price requirement for continued listing. Trading on a split-adjusted basis has closed on Friday, March 22, 2024, with adjustments made to the exercise price of the company’s warrants.
MicroAlgo shares dropped 5.4% on Friday while they surged 70.4% in premarket trading Monday.
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