Ideanomics announces 1-for-125 reverse stock split

Ideanomics announced that its Board of Directors has approved a reverse stock split of its common stock, par value 0.1c per share at a ratio of 1-for-125. The Reverse Stock Split is expected to become effective on August 25 and the shares are expected to begin trading on the split-adjusted basis on the Nasdaq under the Company’s existing trading symbol “IDEX” at market open on August 25, 2023, upon Nasdaq’s approval. The new CUSIP number following the Reverse Stock Split will be 45166V205. The Reverse Stock Split is primarily being enacted to regain compliance with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550.