Universe Pharmaceuticals (UPC) Announces 1:15 Share Consolidation

Universe Pharmaceuticals INC (NASDAQ: UPC) today announced that the Company plans to effect a share consolidation of 15 ordinary shares with par value of US$0.01875 per share each in the Company’s issued and unissued share capital into one (1) ordinary share with par value of US$0.28125 (the “Share Consolidation”). As a result of the Share Consolidation, each 15 pre-consolidation ordinary shares outstanding will automatically combine and convert to one issued and outstanding ordinary share without any action on the part of the shareholders.

The Share Consolidation was made effective at 5:00 p.m. Cayman Islands time on November 12, 2024. Beginning with the opening of trading on November 18, 2024, U.S. Eastern time, the Company’s ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol “UPC” but under a new CUSIP number of G9442G 120. No fractional shares will be issued in connection with the Share Consolidation. All fractional shares will be rounded up to the whole number of shares. Immediately following the Share Consolidation, the authorized share capital of the Company will be US$140,625,000 divided into 450,000,000 ordinary shares, par value US$0.28125 per share and 50,000,000 preferred shares, par value US$0.28125 per share.

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