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Bit Brother announces 1 for 15 reverse share split
The Fly

Bit Brother announces 1 for 15 reverse share split

Bit Brother announced that a 1 for 15 reverse split of its Class A ordinary shares was approved by the Company’s board of directors on September 29, 2022 and is expected to become effective on or around December 15. Upon the effectiveness of the reverse share split, Bit Brother shareholders will receive one new Class A ordinary share of Bit Brother for every fifteen shares they hold. Bit Brother’s Class A ordinary shares are expected to begin trading on a split-adjusted basis when the market opens on December 15. The reverse share split is expected to lead Bit Brother’s Class A ordinary shares to trade at approximately fifteen times the price per share at which it trades prior to the effectiveness of the reverse share split. Bit Brother, however, cannot assure that the price of its Class A ordinary shares after the reverse split will reflect the 1 for 15 reverse split ratio, that the price per share following the effective time of the reverse split will be maintained for any period of time, or that the price will remain above the pre-split trading price.

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