U-BX Technology Ltd. implements 1-for-16 reverse stock split; new trading begins on November 27.

From GlobeNewswire: 2024-11-25 07:00:00

U-BX Technology Ltd. (NASDAQ:UBXG) announced a 1-for-16 reverse stock split of its ordinary shares, approved by shareholders on October 24, 2024. The new adjusted trading begins on November 27, 2024, under the ticker symbol “UBXG” with a reduced outstanding share count from 29.7 million to 1.9 million. The Company also amended its Memorandum of Association and changed the par value of post-split shares to $0.0016. No fractional shares will be issued. For more details, refer to U-BX’s notice of annual general meeting filed with the SEC on October 8, 2024.

U-BX Technology Ltd., based in Beijing, provides insurance technology in China, focusing on AI-driven services to the insurance industry. Their offerings include digital promotion services, risk assessment using the “Magic Mirror” algorithm for auto insurance, and bundled benefits for insurance carriers. The company’s services help boost social media visibility, provide personalized risk reports, and offer value-added benefits like auto maintenance services. For more information, visit their website at https://www.u-bx.com/.



Read more at GlobeNewswire: U-BX Technology Ltd. Announces Effective Date of Reverse