Connexa Sports Technologies (YYAI) Announces 1:20 Reverse Share Split

Connexa Sports Technologies Inc. (Nasdaq: YYAI), the owner of Slinger Bag and Gameface AI, announced that on June 17, 2024, following receipt of stockholder approval at its annual general meeting held on May 15, 2024, the Company is submiting an application to Nasdaq to effect a 1-for-20 reverse split of its common stock (the “Reverse Split”) with a request to become effective Monday morning, June 28, 2024. After Nasdaq approval, the pending Delisting Notice, received on June 11, 2024, should be withdrawn, there will be no further need for a hearing and Connexa will regain Nasdaq compliance.

“As already made public and approved by Connexa shareholders, the company is in the process of Yuanyu Enterprise Management effecting a change in control, which will result in the Slinger Bag business being transferred to a private company. It is unfortunate that this process, including the shareholder-approved 1-for-20 reverse split, has not been completed ahead of the bid price compliance deadline, resulting in the receipt of a delisting notice. However, the reverse split is now expected to take place in the coming days, subject to Nasdaq approval, and once complete will result in our bid price requirement once again being met,” commented Mike Ballardie, CEO of Connexa.

More detailed information on Connexa Sports Technologies and Slinger Bag can be found at www.connexasports.com

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