Aoxin Tianli Group (ABAC) Announces One-for-Four Reverse Stock Split
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Aoxin Tianli Group, Inc. (Nasdaq: ABAC) announced a one (1) -for- four (4) reverse stock split (the "Reverse Split") of its authorized and issued and outstanding shares of common stock (the "Common Stock"). The Reverse Split will be effective and the Common Stock will begin trading on the Nasdaq Capital Market ("Nasdaq") on a split-adjusted basis at the market opening on September 9, 2016. The Company's Common Stock will continue to trade on Nasdaq under the symbol "ABAC" but with a new CUSIP number G0404E 112.
The Reverse Split is intended to increase the per share trading price of the Company's Common Stock to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.
As a result of the Reverse Split, every four issued and outstanding shares of the Company's Common Stock will automatically be combined into one issued and outstanding share. This will reduce the total number of issued and outstanding shares of Common Stock from 31,952,000 to approximately 7.99 million, and the Company's authorized shares of Common Stock from 100,000,000 to 25,000,000. No fractional shares will be issued. All fractional shares created by the Reverse Split will be rounded up to the nearest whole share. You need not return any stock certificates you may hold or contact the Company, its transfer agent or your broker. The Company's transfer agent will update its books and records to reflect the Reverse Split. All book-entry and other electronic positions representing issued and outstanding shares of the common stock will be automatically adjusted. Shareholders whose shares are in electronic form at brokerage firms do not require action, as the effect of the Reverse Split will automatically be reflected in their brokerage accounts.
For further information regarding the Reverse Split, please refer to the Company's Form 8-K to be filed today with the Securities and Exchange Commission and available on the SEC website at http://www.sec.gov.
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