Singapore-headquartered Ohmyhome Ltd. said it will implement a 1-for-50 reverse stock split effective Aug. 31, consolidating every 50 Class A and Class B ordinary shares into one share.
The move aims to increase the share price to meet Nasdaq listing requirements, the company said. Fractional shares will be rounded up to the next whole share, and the split will not alter the company’s market capitalization or total equity.
Ohmyhome’s outstanding Class A shares will fall from 95.6 million to approximately 1.9 million, while Class B shares will decline from 841,540 to about 16,831. Total ordinary shares outstanding will drop from 96.4 million to roughly 1.93 million. Outstanding stock options, warrants and other rights will be adjusted proportionately.
Shareholders holding shares through a bank, broker or nominee will have their holdings automatically adjusted. The company’s trading symbol, OMH, will remain unchanged, but its CUSIP will update to G6S38M131. Trading is expected to resume under the new share structure on Sept. 1.
Ohmyhome describes itself as a data and technology-driven digital marketing company specializing in multi-channel marketing and content solutions for advertisers. The firm provides digital marketing strategy, content creation, campaign execution and performance monitoring services.
