BEIJING, March 4,
2025 /PRNewswire/ -- ReTo Eco-Solutions, Inc.
(Nasdaq: RETO) ("ReTo" or the "Company"), a
manufacturer of equipment for production of eco-friendly materials
in China, today announced that on
February 11, 2025, its board of
directors approved a combination of its Class A shares on a
ten-to-one basis (the "Share Combination"). The Company's
Class A shares will begin trading on a post combination basis on
March 7, 2025.
As a result of the Share Combination, each ten (10)
pre-combination Class A shares of the Company will be automatically
combined into one (1) Class A share without any action on the part
of the holders, with par value of the Class A shares of the Company
being changed from $0.1 per share to
$1.0 per share, and the Company's
issued and outstanding Class A shares will be reduced from
19,352,636 to approximately 1,935,264. The Company's Class A shares
will continue to trade on the Nasdaq Capital Market
("Nasdaq") under the symbol "RETO" under a new CUSIP number
– G75271307. The Share Combination is intended to increase the
market price per share of the Company's Class A shares to allow the
Company to maintain its Nasdaq listing.
No fractional shares will be issued as a result of the Share
Combination. Shareholders who otherwise would be entitled to a
fractional share because they hold a number of Class A shares not
evenly divisible by ten will automatically be entitled to receive
an additional share of the Company's Class A shares.
The Share Combination will not be submitted to a vote of the
Company's shareholders as a vote is not required under the laws of
the British Virgin Islands.
The Company's transfer agent, VStock Transfer, LLC, will act as
the exchange agent. Adjustments made to Class A shares represented
by physical stock certificates can be made upon surrender of the
certificate to the transfer agent. Please contact VStock Transfer,
LLC for further information at (212) 828-8436.
About ReTo Eco-Solutions, Inc.
Founded in 1999, ReTo Eco-Solutions, Inc., through its operating
subsidiaries in China, is engaged
in the research and development, manufacture and sales of
ecological environment protection equipment and intelligent
equipment. The Company provides consultation, design,
implementation and installation of its equipment and related parts,
as well as engineering support and technical advice and services.
For more information, please visit: http://en.retoeco.com.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. The Company's actual results may
differ materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties. For example, there can be no assurance that the
Company will be able to regain compliance and maintain its listing
on Nasdaq. The reports filed by the Company with the Securities and
Exchange Commission discuss these and other import factors and
risks that may affect the Company's business, results of operations
and financial conditions. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
For more information, please contact:
ReTo Eco-Solutions, Inc.
Tel: +86-010-64827328
Email: ir@retoeco.com or 310@reit.cc
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SOURCE ReTo Eco-Solutions, Inc.
