AERWINS Technologies Inc. announced on March 28, 2024, that it will undergo a 1-for-100 reverse stock split of its common stock, which is expected to take effect at market open on April 2, 2024. This action follows the approval from the company's stockholders at the Annual Meeting held on November 20, 2023, and the subsequent board of directors' decision on March 19, 2024. The reverse stock split aims to elevate the per-share price of AERWINS's common stock to meet Nasdaq's minimum bid price requirement for continued listing. Post-split, the par value of the common stock will remain the same, and proportional adjustments will be made to the company's outstanding warrants, options, and restricted stock units. The total number of authorized shares of...Show More

AERWINS Technologies Inc. announced on March 28, 2024, that it will undergo a 1-for-100 reverse stock split of its common stock, which is expected to take effect at market open on April 2, 2024. This action follows the approval from the company's stockholders at the Annual Meeting held on November 20, 2023, and the subsequent board of directors' decision on March 19, 2024. The reverse stock split aims to elevate the per-share price of AERWINS's common stock to meet Nasdaq's minimum bid price requirement for continued listing. Post-split, the par value of the common stock will remain the same, and proportional adjustments will be made to the company's outstanding warrants, options, and restricted stock units. The total number of authorized shares of common and preferred stock will remain unchanged. No fractional shares will be issued; instead, they will be rounded up to the next whole share. AERWINS Technologies, which is working on a single-seat optionally Manned Air Vehicle, has provided additional information about the reverse stock split in its definitive proxy statement filed with the SEC on October 11, 2023.