No fractional shares will be issued to any shareholders in connection with the share consolidation, and any fractional shares which would have resulted from the share consolidation will be rounded down to the next whole number and the Company will make a cash payment (without interest) to all the holders of Class A Ordinary Shares and Class B Ordinary Shares equal to such fraction multiplied by the average of the closing sales prices of the ordinary shares on Nasdaq during regular trading hours for the five consecutive trading days immediately preceding the expected first trading day of the share consolidation (with such average closing sales prices being adjusted to give effect to the share consolidation) subject to a de minimums.
At the time the share consolidation is effective, the Company’s maximum number of authorized shares will be reduced from 400,000,000 divided into (i) 200,000,000 Class A Ordinary Shares with a par value of US$0.001 per share; and (ii) 200,000,000 Class B Ordinary Shares with a par value of US$0.001 per share to 8,000,000 divided into (i) 4,000,000 Class A Ordinary Shares with a par value of US$0.05 per share; and (ii) 4,000,000 Class B Ordinary Shares with a par value of US$0.05 per share.
Beijing, May 14, 2025 (GLOBE NEWSWIRE) -- AGM Group Holdings Inc.("AGM Holdings” or the "Company”) (NASDAQ: AGMH), an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment, today announced that the Company’s board of directors approved on May 9, 2025 that the ordinary shares of the Company be consolidated on a 50 for 1 ratio.
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