RETO News & Events

ReTo Eco-Solutions files $300M mixed securities shelf

ReTo Eco-Solutions Inc trading halted, news pending

ReTo Eco-Solutions approved a combination of its Class A shares, no par value, on a four-to-one basis. The Class A Shares will begin trading on a post combination basis on May 18. As a result, each four pre-combination Class A Shares will be automatically combined into one Class A Share without any action on the part of the holders, with the number of issued and outstanding Class A Shares reduced from 13,079,201 to approximately 3,269,801. There will be no change to the par value of the Class A Shares. The Class A Shares will continue to trade on Nasdaq under the symbol "RETO" under a new CUSIP number - G75271406. The Share Combination is intended to increase the market price per share of the Class A Shares to allow the company to maintain its Nasdaq listing.

ReTo Eco-Solutions announced that its board of directors approved a combination of its Class A shares, no par value on a five-to-one basis. The Class A Shares will begin trading on a post combination basis on November 3. As a result of the share combination, each five pre-combination Class A Shares will be automatically combined into one Class A Share without any action on the part of the holders, with the number of issued and outstanding Class A Shares reduced from 7,327,491 to approximately 1,465,498. There will be no change to the par value of the Class A Shares, which will remain as no par value following the share combination.