Zhongchao to Effectuate 1-for-3 Share Consolidation
Zhongchao will effectuate a 1-for-3 share consolidation of the company's ordinary shares of 24.8c par value each. Beginning with the opening of trading on June 29, the company's Class A ordinary shares will begin trading on a post-share consolidation basis on Nasdaq under the same symbol "ZCMD," but under a new CUSIP number of G9897X149. The objective of the share consolidation is to maintain its listing on the Nasdaq Capital Market. Upon the effectiveness of the share consolidation, every three Class A ordinary shares with a par value of 24.8c each will be consolidated into one Class A ordinary share with a par value of 74.4c each, and every three Class B ordinary shares with a par value of 24.8c each will be consolidated into one Class B ordinary share with a par value of 74.4c each. As a result of the consolidation, the company will have approximately 1,149,825 Class A ordinary shares and 6,721 Class B ordinary shares issued and outstanding.
