Prenetics announces 1-for-15 reverse stock split

Prenetics Global announced that it will proceed with a reverse stock split of its outstanding ordinary shares at a ratio of 1-for-15. The reverse stock split is expected to become effective on or around November 13 subject to confirmation by NASDAQ. The Company’s common stock is expected to begin trading on a post-split basis at the market open on November 14, 2023 under the Company’s existing trading symbol “PRE“, with a new CUSIP number of G72245122. The reverse stock split is intended to bring the Company into compliance with the minimum $1.00 per share requirement for continued listing on NASDAQ. After the effectiveness of the reverse stock split, every 15 shares Prenetics’ Class A Ordinary Shares and Prenetics’ Class B Ordinary Shares will be combined automatically into one Class A Ordinary Share or Class B Ordinary Share, as applicable, and each shareholder will hold the same percentage of Class A Ordinary Share and Class B Ordinary Share outstanding immediately following the reverse stock split, except for adjustments that may result from the treatment of fractional shares.