EZGO Technologies declares reverse stock split
Reverse Share Split Announcement: EZGO Technologies' board approved a reverse split of its ordinary shares on a one-for-twenty-five basis, effective November 21.
Change in Par Value: The par value of the ordinary shares will change from 4 cents per share to no par value, reducing the total number of issued shares from approximately 21.7 million to about 868,000.
Trading Information: Post-split, the ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol "EZGO" with a new CUSIP number - G5279F201.
Purpose of the Split: The reverse share split aims to increase the market price per share to help maintain the company's Nasdaq listing.
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Penguin Solutions Reports Q1 Earnings of $0.49, Shares Up 5.3%
- Earnings Beat: Penguin Solutions reported Q1 earnings of $0.49 per share, surpassing analyst expectations of $0.44, indicating robust profitability that may attract more investor interest.
- Sales Growth: The company achieved quarterly sales of $343.071 million, exceeding the analyst consensus of $338.758 million, reflecting strong market demand and potential for sustained growth.
- Stock Price Surge: Following the earnings report, Penguin Solutions' shares rose 5.3% to $22.70 in pre-market trading, demonstrating a positive market reaction to its financial performance.
- Increased Market Confidence: The positive results not only bolster investor confidence but may also enhance the company's prospects for better terms in future financing and expansion plans.
EZGO Technologies Registers $200M Mixed Securities Shelf Offering
Registration Statement Filed: EZGO Technologies has submitted a registration statement with the SEC to utilize a “shelf registration” process for offering up to $200 million in mixed securities.
Types of Securities Offered: The company plans to issue a combination of ordinary shares, debt securities, warrants, rights, or units in one or more offerings.
Reverse Share Split Announcement: EZGO has announced a 1-for-25 reverse share split as part of its financial strategy.
Financial Ratings and Information: Additional financial information and a Quant Rating for EZGO Technologies are available through Seeking Alpha.
