Borqs Technologies announced that its board of directors has approved a 1-for-12 reverse split for the company’s common stock. The reverse stock split is anticipated to take effect on October 10, 2023. Accordingly, at the effective date, every twelve issued and outstanding shares of the company’s common stock will be converted into one share of the company’s common stock. The company’s common stock is expected to begin trading on the Nasdaq Capital Market on a post-split basis beginning on October 10, 2023, under a new CUSIP number: G1466B145.
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