TD Holdings announces 1-for-50 reverse stock split and name change

BAIYU Holdings plans to change its name from “TD Holdings, Inc.” to “BAIYU Holdings, Inc.”, its ticker symbol from “GLG” to “BYU”, and to effect a 1-for-50 reverse stock split of its shares of common stock, par value $0.001. The expected marketplace effective date for the name and ticker change is October 30. The company’s common stock is expected to begin trading when the markets open on a reverse stock split-adjusted basis under the new name “BAIYU Holdings, Inc.” and the new ticker symbol “BYU” on October 30. The reverse stock split is primarily intended to bring the company into compliance with the minimum bid price requirements for maintaining its listing on Nasdaq. The new CUSIP number following the reverse stock split will be 87250W301. As a result of the reverse stock split, every 50 shares of the company’s common stock issued and outstanding will be automatically reclassified into one new share of common stock. The reverse stock split will not modify any rights or preferences of the shares of the company’s common stock.