EZGO Implements 1-for-150 Reverse Share Split to Boost Stock Price Compliance

EZGO Implements 1-for-150 Reverse Share Split

On May 15, 2026, EZGO Technologies Ltd. (NASDAQ: EZGO), a prominent provider of short-distance transportation solutions based in China, disclosed significant news regarding its ordinary shares. The company's board of directors approved a reverse share split on a one-for-150 basis, which will take effect on May 19, 2026. This strategic move comes as part of the company's efforts to comply with Nasdaq’s continued listing requirements, ensuring its regular participation in one of the world’s most prestigious stock markets.

The mechanics of the reverse share split are simple yet impactful. Post-split, every 150 ordinary shares currently held by shareholders will be converted into one single ordinary share. Consequently, the total number of issued and outstanding shares will decrease from approximately 345,884,745 to around 2,305,899 shares. This consolidation is designed to simultaneously elevate the market price per share and align with Nasdaq's guidelines, which specify minimum price thresholds for listed securities.

Notably, EZGO has indicated no fractional shares will be issued as a result of this reverse split. Any shareholders holding a fractional share equal to one-half or more will receive a full ordinary share, while those with fractions below this threshold will see those fractions canceled. This measure ensures shareholders maintain equity while the company aims for a more robust financial standing.

Interestingly, there will be no shareholder vote on this reverse share split as the British Virgin Islands laws do not require such an action. This decision was straightforwardly executed by the board, reflecting the company’s strategic approach to corporate governance.

EZGO's ordinary shares will also continue to trade on the Nasdaq Capital Market under the symbol 'EZGO' but will feature a new CUSIP number of G5279F300, indicating the adjustments made post-split.

About EZGO Technologies Ltd.

Founded and operational in China, EZGO Technologies harnesses an Internet of Things (IoT) product and service platform that underpins its business model. The company specializes in designing, manufacturing, and selling electric mobility products, intelligent robots, and their necessary accessories, such as batteries and charging facilities. This innovative approach not only distinguishes EZGO in a competitive market but also positions it well to meet consumer demands.

Investors looking for further information can visit the 'Investor Relations' section on EZGO’s website, which offers comprehensive insights into the company's strategies and market position.

Risk Factors and Forward-looking Statements

It's essential to acknowledge that this announcement includes forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995. These statements encompass plans and expectations regarding future performance and are subject to various risks that may affect actual results. Factors include competitive pressures, regulatory changes, market fluctuations, and broader economic conditions. Interested parties are encouraged to consult the company's official filings with the U.S. Securities and Exchange Commission for a deeper understanding of these risks.

As EZGO moves forward with this strategic transition, the industry will be watching closely to assess its effectiveness in enhancing shareholder value and maintaining compliance within the competitive landscape of transportation solutions.