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W&L Group Announces Share Combination to Maintain Nasdaq Listing
ByAinvest
Thursday, Aug 21, 2025 10:49 am ET1min read
WANG & LEE GROUP, Inc. announced a share combination on July 28, 2025, where each 250 pre-combination ordinary shares will be combined into one share, reducing the total number of shares from 174,679,566 to approximately 698,719. The company's ordinary shares will trade on Nasdaq under the symbol "WLGS" with a new CUSIP number. The Share Combination aims to increase the market price per share to maintain the company's Nasdaq listing.
WANG & LEE GROUP, Inc. (WLGS) has announced a significant share combination effective September 2, 2025. The company's board approved a 250-to-1 share combination on July 28, 2025, aiming to increase the market price per share and maintain its Nasdaq listing compliance [1].The share combination will reduce the total number of outstanding shares from 174,679,566 to approximately 698,719. This reduction will result in each 250 pre-combination ordinary shares being combined into one share, with the stock continuing to trade under the symbol "WLGS" with a new CUSIP number G9T22C118 [1].
Shareholders holding shares not evenly divisible by 250 will receive additional fractional shares to ensure no fractional shares remain outstanding. This measure is part of the company's strategy to enhance its financial position and market visibility [1].
The share combination is a proactive step to address the company's recent challenges, including multiple delisting notifications from Nasdaq due to failing to maintain the minimum bid price requirement of $1.00 [2]. The company has been granted a 180-day compliance period to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of ten consecutive business days [2].
While the share combination is a strategic move to bolster the company's market presence, it remains to be seen how investors and the market will react to this significant change. The company's ability to maintain its Nasdaq listing and attract investor confidence will be key to the success of this initiative.
References:
[1] https://www.stocktitan.net/news/WLGS/
[2] https://www.stocktitan.net/news/WLGS/
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