HAIKOU, China, Feb. 24, 2024 /PRNewswire/ -- China Pharma Holdings Inc. ("China Pharma" or the "Company") (NYSE American: CPHI) reported that it expects to implement a 1-for-5 reverse stock split on its common stock effective Wednesday, March 6, 2024, with trading to begin on a split-adjusted basis at the market open on that day. Trading in the common stock will continue on the NYSE American under the symbol "CPHI". The new CUSIP number for the common stock following the reverse stock split is 16941T-302.

The reverse stock split at a ratio of 1-for-5 shares was approved by the Company's Board of Directors through unanimous written consent on October 16, 2023 and adopted by the Company's stockholders through Annual Meeting for the fiscal year ended on December 31, 2022, which was held on December 17, 2023.

Upon the effectiveness of the reverse stock split, every 5 shares of the Company's issued and outstanding common stock will automatically be converted into one share of issued and outstanding common stock. No fractional shares will be issued as a result of the reverse stock split. Instead, any fractional shares that would have resulted from the split will be rounded up to the next whole number. The reverse stock split affects all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's outstanding common stock, except for adjustments that may result from the treatment of fractional shares.
https://en.prnasia.com/releases/global/china-pharma-holdings-inc-announces-1-for-5-reverse-stock-split-437468.shtml