Zhongchao announces 1-for-8 share consolidation effective march 2

Zhongchao Inc. (NASDAQ: ZCMD) will implement a 1-for-8 share consolidation of its ordinary shares beginning March 2, 2026, according to a company statement.

The consolidation will convert every eight Class A ordinary shares with $0.001 par value into one Class A ordinary share with $0.008 par value. The same ratio applies to Class B ordinary shares. Trading will continue on the Nasdaq Capital Market under the "ZCMD" symbol with a new CUSIP number G9897X123.

Prior to the consolidation, Zhongchao has 25,754,124 Class A ordinary shares and 4,999,772 Class B ordinary shares outstanding. Following the consolidation, the company expects approximately 3,219,267 Class A ordinary shares and 624,972 Class B ordinary shares to remain outstanding, subject to rounding adjustments for fractional shares.

The company stated the consolidation aims to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market. Shareholders approved the consolidation on February 10, 2026.

No fractional shares will be issued, with any fractional shares rounded up to the next whole number. The consolidation will not alter shareholders' percentage ownership in the company, except for minor adjustments from fractional share treatment.

Zhongchao operates as a platform-based internet technology company providing services for cancer patients and those with other major diseases through various online healthcare platforms in China.

You May Also Be Interested In

• Jefferies Starts Latigo Biotherapeutics (LTGO) at Buy
• SB Energy files for IPO amid data center power demand growth
• AstraZeneca's Tagrisso combo shows Phase III benefit in lung cancer