Universe Pharmaceuticals INC Announces 1-For-40 Share Consolidation, Effective March 24, 2025

Benzinga·03/20/2025 12:33:54

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Universe Pharmaceuticals INC (NASDAQ:UPC) ("Universe Pharmaceuticals" or the "Company"), a pharmaceutical producer and distributor in China, today announced that the Company plans to effect a share consolidation of 40 ordinary shares with par value of US$0.28125 per share each in the Company's issued and unissued share capital into one (1) ordinary share with par value of US$11.25 (the "Share Consolidation"). As a result of the Share Consolidation, each 40 pre-consolidation ordinary shares outstanding will automatically combine and convert to one issued and outstanding ordinary share without any action on the part of the shareholders.

The Share Consolidation will be made effective on March 24, 2025. Beginning with the opening of trading on March 24, 2025, U.S. Eastern time, the Company's ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol "UPC" but under a new CUSIP number of G9442G 138. No fractional shares will be issued in connection with the Share Consolidation. All fractional shares will be rounded up to the whole number of shares. Immediately following the Share Consolidation, the authorized share capital of the Company will be US$140,625,000 divided into 11,250,000 ordinary shares, par value US$11.25 per share and 1,250,000 preferred shares, par value US$11.25 per share.

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