China Pharma Holdings Inc. (CPHI) announced that it expects to implement a 1-for-10 reverse stock split on its common stock, effective Tuesday, April 15, with trading to begin on a split-adjusted basis.
The company's stock will continue on the NYSE American under the symbol "CPHI", with a new CUSIP number (16941T 401) for the common stock following the reverse stock split.
As a result of the reverse split, every 10 shares of Company's common stock will automatically be converted into one share of common stock. Any fractional shares that would have resulted from the split will be rounded up to the next whole number.
The reverse stock split at a ratio range between 1:10 and 1:20 was authorized by Board on October 22, 2024, and adopted by the Company's stockholders through the Annual Meeting for the fiscal year ended on December 31, 2023, which was held on December 22, 2024. The Board fixed a ratio of 1:10 on March 26, 2025.
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