Global Mofy AI Limited announces effective date of reverse stock split

Global Mofy AI Limited (Nasdaq: GMM) has announced that its reverse stock split became effective on November 26, 2024, with the company’s Class A ordinary shares beginning to trade on an adjusted basis under the same ticker symbol “GMM” reverse stock split. The reverse stock split was approved by shareholders at a special meeting on November 1, 2024, and is structured at a ratio of 1-for-15. As a result, every 15 shares of the company’s outstanding Class A ordinary shares were consolidated into one share, reducing the total number of shares from approximately 42.2 million to around 2.8 million.

The company also amended its Memorandum of Association to adjust the par value of the shares to $0.00003 per share and proportionately reduce the number of authorized shares. The move is intended to bring the company into compliance with Nasdaq’s minimum bid price requirement of $1.00 per share for continued listing. Outstanding warrants and options were adjusted proportionately, and no fractional shares were issued; instead, entitlements were rounded up to the nearest whole share.

The new CUSIP number for the company’s Class A ordinary shares is CUSIP number G3937M114. Nasdaq has also updated its records to reflect the changes, including the par value adjustment and the reverse stock split. Investors are advised to review the company’s filings with the SEC for further details.