China Pharma to implement 1-for-5 reverse stock split

China Pharma Holdings reported that it expects to implement a 1-for-5 reverse stock split on its common stock effective Wednesday, March 6, with trading to begin on a split-adjusted basis at the market open on that day. Trading in the common stock will continue on the NYSE American under the symbol “CPHI“. The reverse stock split at a ratio of 1-for-5 shares was approved by the company’s board through unanimous written consent on October 16, 2023 and adopted by the company’s stockholders through annual meeting for the fiscal year ended on December 31, 2022, which was held on December 17, 2023.