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Elong Power Holding Limited Announces Effective Date of Reverse Stock Split
Elong Power Holding Limited ("Elong Power" or the "Company") (Nasdaq: ELPW), a provider of high power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems, today announced that it has resolved to effect a reverse stock split of the Company's ordinary shares, with the split ratio set at 16-for-1. The reverse stock split was approved by the Company's shareholders at a special meeting held on November 24, 2025. Elong Power's Class A ordinary share
About this update from Elong Power Holding Limited
[{"type":"text","content":"BEIJING, Dec. 23, 2025 /PRNewswire/ -- Elong Power Holding Limited ("Elong Power" or the "Company") (Nasdaq: ELPW), a provider of high power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems, today announced that it has resolved to effect a reverse stock split of the Company's ordinary shares, with the split ratio set at 16-for-1. The reverse stock split was approved by the Company's shareholders at a special meeting held on November 24, 2025. Elong Power's Class A ordinary shares will begin trading on an adjusted basis, reflecting the reverse stock split, on December 26, 2026, under the existing ticker symbol "ELPW." The new CUSIP number for the Company's Class A ordinary shares will be G3016G111.","length":808,"tagName":"p"},{"type":"text","content":"Upon the effectiveness of the reverse stock split, every sixteen shares of the Company's issued and outstanding Class A ordinary shares as of the effective date will automatically be combined into one Class A ordinary share. This adjustment will reduce the total number of outstanding ordinary shares of Elong Power from approximately 61.3 million to approximately 3.8 million.","length":381,"tagName":"p"},{"type":"text","content":"In conjunction with the reverse stock split, the Company also amended its Memorandum of Association to proportionately reduce the number of authorized shares for issuance and to adjust the par value of the post-reverse stock split ordinary shares to $0.00016 per share.","length":269,"tagName":"p"},{"type":"text","content":"The reverse stock split is part of the Company's efforts to bring its stock into compliance with the minimum bid price requirement for maintaining the listing of its Common Stock on the Nasdaq Capital Market. Nasdaq requires listed companies to maintain a minimum bid price of at least $1.00 per share to remain in compliance with its listing standards.","length":357,"tagName":"p"},{"type":"text","content":"In addition, outstanding warrants and options will be adjusted on a proportionate basis or pursuant to the terms of such warrants and options in accordance with the reverse stock split. No fractional shares will be issued; instead, shareholders who would otherwise be entitled to a fractional share will have their entitlement roun...