VS Media Holdings Limited Announces Delay in Effective Date of Reverse Split to June 18, 2024
VS Media Holdings (NASDAQ: VSME) announced a delay in the effective date for its reverse stock split to June 18, 2024, due to unforeseen regulatory clearance issues. Originally scheduled for June 17, 2024, the reverse split will now begin trading on a split-adjusted basis on June 18, 2024, when the market opens.
- The Company is a leader in managing a global network of digital creators.
- The reverse stock split aims to adjust the company's stock price to meet regulatory requirements.
- Unanticipated regulatory clearance delays have caused the rescheduling of the reverse stock split.
- The delay could create uncertainty and potential volatility in the stock price.
HONG KONG, June 11, 2024 (GLOBE NEWSWIRE) -- VS Media Holdings Limited (NASDAQ: VSME, the "Company"), a leader in managing a global network of digital creators, today announced that the Company is amending the effective date for its reverse stock split to Tuesday, June 18, 2024 to begin trading on a split-adjusted basis when the market opens, due to an unanticipated delay in obtaining necessary regulatory clearances.
Previously, the Company had planned for its reverse split to become effective after the close of business on Monday, June 17, 2024, and had expected its Class A ordinary shares to begin trading on a split-adjusted basis when the market opened Monday, June 17, 2024.
About VS Media
VS Media Holdings Limited (NASDAQ: VSME) manages a network of leading digital creators across Asia Pacific that powers content-driven social commerce and offers local and effective marketing services to brands. Founded in 2013, VSME partners with over 1,500 creators and over 1,000 brands to promote and merchandise their products and services. The Company is currently growing internationally across Hong Kong, China, Taiwan, Singapore, and beyond. For more information, visit https://www.vs-media.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, for example, statements about potential activity under share repurchase plan. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements are also based on assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
Contact information:
VS Media Holdings Limited
FAQ
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