Irvine, California, Aug. 06, 2025 (GLOBE NEWSWIRE) -- ATIF Holdings Limited (NASDAQ: ZBAI), today announced that it will effect a reverse share split of its outstanding ordinary shares, par value $0.001 per share (the "Ordinary Shares"), at a ratio of 1-for-18, to be effective at the open of business on Friday, August 8, 2025.
Our Ordinary Shares will begin trading on a reverse share split-adjusted basis at the opening of The Nasdaq Capital Market ("Nasdaq") on Friday, August 8, 2025. Following the reverse share split, the Ordinary Shares will have a new par value of $0.018 per share and will continue to trade on Nasdaq under the symbol "ZBAI" with the new CUSIP number, G0602B118. The reverse share split is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per Ordinary Share for continued listing on Nasdaq.
No fractional shares will be issued in connection with the reverse share split and all such fractional interests will be rounded up to the nearest whole number of Ordinary Shares. In addition, the reverse share split will apply to the Ordinary Shares issuable upon the exercise of the Company's outstanding derivative securities, with proportionate adjustments to be made to the exercise prices and number of derivates thereof and under the Company's equity incentive plans.
The reverse share split will reduce the number of issued and outstanding shares of the Company's Ordinary Shares from approximately 18.2 million to approximately 1.01 million.
On June 30, 2025, the board of directors of the Company approved the reverse share split of the Ordinary Shares, at a ratio of 1-for-18.
Transhare Corporation is acting as the exchange agent and paying agent for the reverse share split. Shareholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the reverse share split.
Transhare Corporation will provide instructions to any shareholders with certificates regarding the process in connection with the exchange of pre-reverse share split share certificates for ownership in book-entry form or share certificates on a post-reverse share split basis. Shareholders are encouraged to contact their bank, broker or custodian with any procedural questions.
About ZBAI
ATIF Holdings Limited (NASDAQ: ZBAI) is a business consulting company that specializes in providing professional IPO, M&A advisory and post-IPO compliance services to small and medium-sized companies seeking to go public on a stock exchange in the United States. The Company is currently exploring business opportunities in the BTC sector.
Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the "safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, "estimated," "projected," Words such as "expect", "anticipate", "predict", "plan", "intend", "believe", "seek", "may", "will", "should", "future", "propose" and variations of these words or similar expressions (or the opposite of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements do not guarantee 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 the Company's control and may cause actual results or achievements to differ materially from those discussed in the forward-looking statements.
Important factors include:
- Bitcoin price and uncertainty in the regulatory of the crypto currency industry;
- future financial and operating results, including revenues, income, expenses, cash balances and other financial items;
- Ability to manage business development, growth and expansion; Current and future economic and political conditions;
- The ability to compete in industries with low barriers to entry;
- The ability to obtain additional financing to fund capital expenditure for the planned business in the future.
- Ability to attract new customers and further enhance brand awareness;
- Ability to hire and retain qualified management and key staff for the current and planned business;
- Trends and competition in the financial advisory services industry;
- Pandemic or epidemic disease and etc.
Except as required by law, the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the expected results expressed or implied by the forward-looking statements we make. You should not interpret forward-looking statements as predictions of future events. Forward-looking statements represent only the beliefs and assumptions of our management as of the date such statements are made. The above forward-looking statements are made as of the date of this press release.
Contact Information
Name: Christina
Email: Christina@zbai.co
