Blue Hat Announces 1-for-100 Reverse Stock Split

Rhea-AI Summary

Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced a 1-for-100 reverse stock split effective March 17, 2025. The company currently has 493,820,989 ordinary shares outstanding. Following the split, every 100 shares with a par value of $0.01 will be converted into one share with a par value of $1.

Trading will continue on the Nasdaq Capital Market under the symbol 'BHAT' with a new CUSIP number G1329V 114. No fractional shares will be issued, with any fractional shares being rounded up to the next whole number. The split will not alter shareholders' percentage interest in the company's outstanding ordinary shares, except for adjustments from fractional share treatment.

Positive

• Potential compliance with Nasdaq minimum bid price requirements
• Higher nominal share price could attract institutional investors

Negative

• Implementation of reverse stock split typically indicates company's struggle to maintain minimum share price requirements
• Significant reduction in total outstanding shares may impact stock liquidity

XIAMEN, China, March 12, 2025 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a Cayman Islands company, reported that it expects to implement a 1-for-100 reverse stock split on its ordinary shares effective Monday, March 17, 2025, with trading to begin on a split-adjusted basis at the market open on that day. Before such reverse stock split, the Company has a total of 493,820,989 ordinary shares issued and outstanding. Trading in the ordinary shares will continue on the Nasdaq Capital Market under the symbol “BHAT”. The new CUSIP number for the ordinary shares following the reverse stock split is G1329V 114.

Upon the effectiveness of the reverse stock split, every 100 shares of the Company’s issued and outstanding ordinary shares, par value $0.01 per share will automatically be converted into one issued and outstanding ordinary share, par value $1 per share. 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 shareholders uniformly and will not alter any shareholder’s percentage interest in the Company’s outstanding ordinary shares, except for adjustments that may result from the treatment of fractional shares.

The reverse stock split at a ratio of 1-for-100 shares was approved by the Company’s board of directors and its shareholders.

About Blue Hat
Blue Hat was formerly a provider of communication services, as well as a producer, developer, and operator of AR interactive entertainment games, toys, and educational materials in China. Leveraging years of technological accumulation and unique patented technology, Blue Hat is expanding its business to commodity trading, aiming to become a leading intelligent commodity trader worldwide. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements 
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

Contacts:
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net

FAQ

When will BHAT's 1-for-100 reverse stock split take effect?

The reverse stock split will take effect on Monday, March 17, 2025, with trading beginning on a split-adjusted basis at market open.

How many shares will BHAT have outstanding after the reverse split?

After the 1-for-100 reverse split, BHAT's 493,820,989 outstanding shares will be converted to approximately 4.94 million shares.

What happens to fractional shares in BHAT's reverse split?

Fractional shares resulting from the reverse split will be rounded up to the next whole number.

Will BHAT's stock symbol change after the reverse split?

No, BHAT will continue trading on the Nasdaq Capital Market under the same symbol with a new CUSIP number G1329V 114.