EZGO News & Events

EZGO Technologies announced that on November 7 its board of directors approved a reverse split of its ordinary shares on a one-for-twenty-five basis, and a change in par value of its ordinary shares to no par value. The Company's ordinary shares will begin trading on a post-split basis on November 21. As a result of the Reverse Share Split, each twenty-five pre-split ordinary shares of the Company will be automatically combined into one ordinary share without any action on the part of the holders, with par value of the ordinary shares of the Company being changed from 4c per share to no per share, and the Company's issued and outstanding ordinary shares will be reduced from 21,700,706 to approximately 868,029. The Company's ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol "EZGO" under a new CUSIP number - G5279F201. The Reverse Share Split is intended to increase the market price per share of the Company's ordinary shares to allow the Company to maintain its Nasdaq listing.

EZGO Technologies announced that the company had received a notification letter dated December 30, 2024 from the Listing Qualifications Department of The Nasdaq Stock Market LLC, notifying the company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). It resulted from the fact that the closing bid price of the company's ordinary shares, par value 4c per share was below $1.00 per share for a period of 30 consecutive business days from November 13, 2024 to December 27, 2024. This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. The Notification Letter has no immediate effect on the listing of the company's Ordinary Shares, which will continue to trade uninterrupted on Nasdaq under the ticker "EZGO". Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the company has a compliance period of 180 calendar days, or until June 30, 2025, to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the company's Ordinary Shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the company a written confirmation of compliance and the matter will be closed.