Aptorum Group announced a 1-for-10 reverse stock split of the Company’s Class A Ordinary Shares, effective on January 23, 2023. The Company’s Class A Ordinary Shares is expected to commence trading on a split-adjusted basis when the markets open on January 23, 2023. The Company’s Class B Ordinary Shares shall also be split on a 1-for-10 reverse basis. The Company’s Board of Directors implemented the reverse stock split with the objective of regaining compliance with the $1.00 minimum bid price requirement of The Nasdaq Global Market. The Company has until May 16, 2023 to comply with this requirement. To comply with this requirement, the closing bid price of the Company’s Class A Ordinary Shares must be at least $1.00 per share for a minimum of 10 consecutive business days prior to May 16, 2023. There is no guarantee the Company will meet the minimum bid price requirement.
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