SRIVARU Limited Holding Announces Effective Time of Share Consolidation/Reverse Share Split to Regain NASDAQ Compliance
SRIVARU Holding (Nasdaq: SVMH), a manufacturer of premium electric motorcycles, announced a 50-for-1 reverse share split of its ordinary shares effective January 15, 2025. This move aims to regain compliance with Nasdaq's minimum $1.00 bid price requirement. The reverse split, approved by shareholders on December 4, 2024, and the board on December 28, 2024, will reduce the total number of authorized shares from 1 billion to 20 million and change the par value to $0.50 per share.
As of the Effective Time, every 50 shares will be consolidated into one, and proportional adjustments will be made to stock options, warrants, and equity awards. No fractional shares will be issued; fractional shares will be rounded up at the participant level with DTC. The company's ordinary shares will trade on a split-adjusted basis under the existing ticker symbol SVMH starting January 15, 2025. The new CUSIP number for the shares will be G8403L136.
Registered stockholders holding shares electronically in book-entry form need not take any action. Those holding shares in brokerage accounts will have their positions automatically adjusted according to their brokers' processes.
SRIVARU Holding (Nasdaq: SVMH), un produttore di motociclette elettriche di alta qualità, ha annunciato uno split inverso delle azioni di 50 a 1 delle sue azioni ordinarie con effetto dal 15 gennaio 2025. Questa manovra mira a ripristinare la conformità con il requisito di prezzo minimo di offerta di $1,00 di Nasdaq. Lo split inverso, approvato dagli azionisti il 4 dicembre 2024 e dal consiglio di amministrazione il 28 dicembre 2024, ridurrà il numero totale di azioni autorizzate da 1 miliardo a 20 milioni e cambierà il valore nominale a $0,50 per azione.
Dal Momento Efficace, ogni 50 azioni saranno consolidate in una, e saranno effettuate regolazioni proporzionali per le opzioni sulle azioni, i warrant e le premi azionarie. Non verranno emesse azioni frazionarie; le azioni frazionarie saranno arrotondate a livello del partecipante con DTC. Le azioni ordinarie dell'azienda verranno scambiate su base rettificata per lo split con il simbolo ticker esistente SVMH a partire dal 15 gennaio 2025. Il nuovo numero CUSIP per le azioni sarà G8403L136.
Gli azionisti registrati che detengono azioni in forma elettronica non devono intraprendere alcuna azione. Coloro che detengono azioni in conti di intermediazione avranno le loro posizioni automaticamente regolate secondo i processi dei loro broker.
SRIVARU Holding (Nasdaq: SVMH), un fabricante de motocicletas eléctricas de alta gama, anunció un split reverso de acciones de 50 a 1 de sus acciones ordinarias con efecto a partir del 15 de enero de 2025. Esta medida tiene como objetivo recuperar el cumplimiento con el requisito de precio mínimo de oferta de $1.00 de Nasdaq. El split reverso, aprobado por los accionistas el 4 de diciembre de 2024 y por la junta directiva el 28 de diciembre de 2024, reducirá el número total de acciones autorizadas de 1 mil millones a 20 millones y cambiará el valor nominal a $0.50 por acción.
A partir del Tiempo Efectivo, cada 50 acciones se consolidarán en una, y se realizarán ajustes proporcionales a las opciones sobre acciones, warrants y premios de capital. No se emitirán acciones fraccionarias; las acciones fraccionarias se redondearán al nivel del participante con DTC. Las acciones ordinarias de la empresa se negociarán en base ajustada por el split bajo el símbolo ticker existente SVMH a partir del 15 de enero de 2025. El nuevo número CUSIP para las acciones será G8403L136.
Los accionistas registrados que posean acciones electrónicamente en forma de libro no necesitan realizar ninguna acción. Aquellos que tengan acciones en cuentas de corretaje verán sus posiciones ajustadas automáticamente de acuerdo con los procesos de sus corredores.
SRIVARU 홀딩스 (나스닥: SVMH)는 프리미엄 전기 오토바이 제조업체로서 2025년 1월 15일부터 1주당 50대 1 주식 병합을 발표했습니다. 이 조치는 나스닥의 최소 매도 가격 요구 사항인 $1.00를 준수하기 위해 시행됩니다. 2024년 12월 4일 주주 총회와 2024년 12월 28일 이사회를 통해 승인된 이번 주식 병합은 총 허가 주식 수를 10억 주에서 2천만 주로 줄이고, 주당 액면가를 $0.50으로 변경합니다.
효력 발생 시점부터, 매 50주가 1주로 통합되며, 주식 옵션, 증권 및 자본 수당에 대해 비례 조정이 이루어집니다. 주식의 분수가 아닌 주식은 발급되지 않으며, 분할 주식은 DTC와 함께 참가자 수준에서 올림 처리가 됩니다. 회사의 보통주는 2025년 1월 15일부터 기존의 티커 심볼 SVMH로 조정된 기준으로 거래됩니다. 주식에 대한 새로운 CUSIP 번호는 G8403L136입니다.
전자적인 장부 형태로 주식을 보유한 등록된 주주는 아무런 조치를 취할 필요가 없습니다. 중개 계좌에 주식을 보유한 주주들은 중개인의 프로세스에 따라 자동으로 수정된 위치를 갖게 됩니다.
SRIVARU Holding (Nasdaq: SVMH), un fabricant de motos électriques haut de gamme, a annoncé un spli inversé de 50 pour 1 de ses actions ordinaires prenant effet le 15 janvier 2025. Cette décision vise à rétablir la conformité avec le seuil minimum de prix d'offre de 1,00 $ de Nasdaq. Le split inversé, approuvé par les actionnaires le 4 décembre 2024 et par le conseil d'administration le 28 décembre 2024, réduira le nombre total d'actions autorisées de 1 milliard à 20 millions et modifiera la valeur nominale à 0,50 $ par action.
A partir de la Date d'Effet, chaque 50 actions seront consolidées en une, et des ajustements proportionnels seront effectués sur les options d'achat d'actions, les bons de souscription et les récompenses en actions. Aucune action fractionnaire ne sera émise ; les actions fractionnaires seront arrondies au niveau du participant avec DTC. Les actions ordinaires de l'entreprise seront négociées sur une base ajustée pour le split sous le symbole boursier existant SVMH à partir du 15 janvier 2025. Le nouveau numéro CUSIP pour les actions sera G8403L136.
Les actionnaires enregistrés détenant des actions sous forme électronique n'ont pas besoin d'entreprendre d'actions. Ceux qui détiennent des actions dans des comptes de courtage verront leurs positions automatiquement ajustées selon les processus de leurs courtiers.
SRIVARU Holding (Nasdaq: SVMH), ein Hersteller von hochwertigen elektrischen Motorrädern, hat einen 50 zu 1 Rückwärtssplitt seiner Stammaktien bekannt gegeben, der am 15. Januar 2025 in Kraft tritt. Diese Maßnahme zielt darauf ab, die Compliance mit der Mindestanforderung von $1,00 für den Aktienkurs von Nasdaq wiederzuerlangen. Der Rückwärtssplitt, der am 4. Dezember 2024 von den Aktionären und am 28. Dezember 2024 vom Vorstand genehmigt wurde, reduziert die Gesamtzahl der genehmigten Aktien von 1 Milliarde auf 20 Millionen und ändert den Nennwert auf $0,50 pro Aktie.
Ab dem Wirksamkeitsdatum werden jeweils 50 Aktien zu einer zusammengelegt, und proportional Anpassungen an Aktienoptionen, Warrants und Aktienprämien vorgenommen. Es werden keine Bruchteile von Aktien ausgegeben; Bruchteile von Aktien werden auf Teilnehmerniveau mit DTC aufgerundet. Die Stammaktien des Unternehmens werden ab dem 15. Januar 2025 auf einer splittbereinigten Basis unter dem bestehenden Tickersymbol SVMH gehandelt. Die neue CUSIP-Nummer für die Aktien wird G8403L136 sein.
Registrierte Aktionäre, die Aktien elektronisch in Buchform halten, müssen keine Maßnahmen ergreifen. Diejenigen, die Aktien in Wertpapierdepots besitzen, sehen ihre Positionen automatisch entsprechend den Prozessen ihrer Broker angepasst.
- None.
- The reverse share split indicates potential compliance issues with Nasdaq's minimum bid price rule.
- The reduction in the total number of authorized shares from 1 billion to 20 million may signal a significant decrease in the company's equity base.
GRAND CAYMAN, Cayman Islands, Jan. 13, 2025 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced that it will effect a share consolidation (“Reverse Share Split”) of its ordinary shares at a ratio of 50-for-1, effective as of 12:00 am on January 15, 2025 (the “Effective Time”), in order to regain compliance with the minimum
The Company’s shareholders previously approved the reverse share split and granted the Company’s board of directors the authority to determine the final reverse share split ratio and when to proceed with the reverse share split at an Extraordinary General Meeting of Shareholders held on December 4, 2024. On December 28, 2024, the Company’s board of directors approved the implementation of the Reverse Share Split at the ratio of 50-for-1 as of the Effective Time. The Company will file a third amended and restated memorandum and articles of association to reflect the Reverse Share Split.
The CUSIP number for the Company’s Ordinary Shares will be G8403L136.
As of the Effective Time, every 50 shares of the Company’s issued and outstanding Ordinary Shares will be combined into one issued and outstanding Ordinary Share. The total number of authorized Ordinary Shares will be reduced from 1,000,000,000 to 20,000,000, and the par value will change to
As of the Effective Time, proportional adjustments will also be made to the number of Ordinary Shares issuable upon the exercise of any outstanding stock options or warrants, and the exercise prices and stock price targets of any outstanding stock options, warrants, and equity awards will also be proportionately adjusted, as applicable.
The Company’s transfer agent, VStock Transfer, LLC, will serve as the exchange agent for the Reverse Share Split. Registered stockholders holding pre-Reverse Share Split Ordinary Shares of the Company’s electronically in book-entry form are not required to take any action to receive post- reverse-split shares. Those stockholders who hold their shares in brokerage accounts or in “street name” will have their positions automatically adjusted to reflect the Reverse Share Split, subject to each brokers’ particular processes, and will not be required to take any action in connection with the Reverse Share Split.
About SRIVARU
SRIVARU Holding Limited, a Cayman Islands exempted company, is the parent company of SRIVARU Motor Private Ltd., a commercial-stage provider dedicated to designing and manufacturing premium electric motorcycles in India. SRIVARU was founded on the realization that while the rider-motorcycle relationship is deep and complex, it is in desperate need of innovation for the next generation of riders. SRIVARU provides affordable premium E2W vehicles that provide an exceptional riding experience with redundant 3-channel automated braking, a low center of gravity to improve stability, enhanced safety features, and easy charging compatible with home charging outlets. The Company has a broad array of intellectual property, including a patent-pending chassis and drive acceleration system. In addition, SRIVARU offers customers a superior total cost of ownership, compared to traditional internal combustion engine motorcycles and E2W vehicle competitors. SRIVARU additionally oversees a manufacturing subsidiary set to play a crucial role in achieving the company’s vision for sustainable and innovative mobility. Additional information about the company is available at: http://www.srivarumotors.com/. With a focus on innovation, sustainability, and performance, SRIVARU aims to redefine the future of mobility.
Forward Looking Statements
This communication may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning SRIVARU’s possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, respectively. These forward-looking statements are based on SRIVARU’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this communication, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside SRIVARU’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the inability to obtain financing to complete the Company’s planned expansion; (b) the inability to successfully appeal the Nasdaq’s delisting determinations; (c) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of SRIVARU to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (d) costs related to ongoing operations; (e) the possibility that SRIVARU may be adversely affected by other economic, business, and/or competitive factors; (f) SRIVARU’s ability to execute its business plans and strategies, (g) SRIVARU’s estimates of expenses and profitability; and (h) other risks and uncertainties indicated from time to time in SRIVARU’s public filings with the SEC, including those under “Risk Factors” therein. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SRIVARU assumes no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. SRIVARU gives no assurance that it will achieve its expectations.
Company Details:
SRIVARU Holding Limited
3rd Floor, Genesis House, Unit 18,
Genesis Close, George Town,
P.O Box 10655, Grand Cayman KY1-1006,
Cayman Islands.
Investor & Media Contact:
Investor Relations
SRIVARU Holding Limited
Email: ir@srivarumotors.com
Phone: +1 (888) 227-8066
FAQ
What does the SVMH reverse share split mean for shareholders?
When will the SVMH reverse share split take effect?
Why is SRIVARU Holding conducting a reverse share split?
How will the SVMH reverse share split affect the total number of shares?
Will fractional shares be issued in the SVMH reverse share split?
What adjustments will be made to SVMH stock options and warrants?
Do SVMH shareholders need to take any action for the reverse share split?
What is the new CUSIP number for SVMH shares after the reverse split?
Will SVMH shares trade under the same ticker symbol after the reverse split?
