Treasure Global Announces 1‑for‑20 Reverse Stock Split to Support Nasdaq Bid Price Compliance

Rhea-AI Summary

Treasure Global (NASDAQ: TGL) will implement a 1-for-20 reverse stock split of its common stock, effective for trading on a split-adjusted basis at market open on December 5, 2025. The Company filed a Certificate of Amendment on December 2, 2025 after stockholder approval on November 24, 2025. The Reverse Stock Split will combine twenty existing shares into one new share and change the CUSIP to 89458T403.

The action is intended to increase the per-share trading price to assist in regaining compliance with Nasdaq's $1.00 minimum bid requirement. Outstanding shares will be reduced from 16,962,004 to approximately 848,100. Proportional adjustments will be made to equity awards, warrants, convertible notes, and plan share counts; fractional shares will be rounded up to whole shares.

Positive

• 1-for-20 reverse split intended to raise per-share price
• Outstanding shares reduced to ~848,100
• Company obtained stockholder approval on November 24, 2025

Negative

• Company stated no assurance it will maintain long-term Nasdaq compliance
• Proportional adjustments to equity awards, warrants, and convertible notes

News Market Reaction

-34.83% 2.6x vol

27 alerts

-34.83% News Effect

-50.3% Trough in 24 hr 33 min

-$4M Valuation Impact

$8M Market Cap

2.6x Rel. Volume

On the day this news was published, TGL declined 34.83%, reflecting a significant negative market reaction. Argus tracked a trough of -50.3% from its starting point during tracking. Our momentum scanner triggered 27 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $8M at that time. Trading volume was elevated at 2.6x the daily average, suggesting increased selling activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Reverse split ratio: 1-for-20 Par value: USD 0.00001 per share Nasdaq minimum bid: USD 1.00 per share +5 more

8 metrics

Reverse split ratio 1-for-20 Reverse stock split of common stock

Par value USD 0.00001 per share Common stock par value unchanged post-split

Nasdaq minimum bid USD 1.00 per share Target bid price requirement for continued listing

Effective trading date December 5, 2025 Shares begin trading on split-adjusted basis

CUSIP 89458T403 New CUSIP for common stock after reverse split

Pre-split shares 16,962,004 shares Outstanding common stock before reverse split

Post-split shares approximately 848,100 shares Outstanding common stock after reverse split

Exchange ratio 20 shares into 1 Automatic combination of existing shares

Market Reality Check

Price: $5.39 Vol: Volume 2,329,517 vs 20-da...

normal vol

$5.39 Last Close

Volume Volume 2,329,517 vs 20-day average 1,939,525 (relative volume 1.2). normal

Technical Price $10.18 is trading below 200-day MA at $37.35, indicating prior downtrend.

Peers on Argus

Peers showed mixed moves, with QH up 4.51% in momentum scans while others like A...

1 Up

Peers showed mixed moves, with QH up 4.51% in momentum scans while others like AUUD, ULY, and MYSZ were down modestly. With TGL’s pre-news move at -40.01%, the pattern points to stock-specific dynamics rather than a sector-driven move.

Historical Context

5 past events · Latest: Dec 10 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 10	Product launch & client	Positive	-40.0%	Accelerated OXI wallet launch, first corporate client, and growth targets.
Dec 10	Equity offering	Negative	-40.0%	USD 2,500,000 registered direct offering of 250,000 common shares.
Dec 08	Revenue outlook update	Positive	-22.3%	Raised 2026 revenue target to USD 3.0 million and detailed growth drivers.
Dec 03	Reverse stock split	Neutral	-34.8%	Announced 1-for-20 reverse split to support Nasdaq minimum bid compliance.
Dec 01	Growth projection	Positive	-20.9%	Projected >500% 2026 revenue growth driven by fintech and digital assets.

Pattern Detected

Recent news, often framed around growth plans or strategic initiatives, has repeatedly coincided with sharp negative price reactions, suggesting a pattern of bearish market responses to company announcements.

Recent Company History

Over late 2025, Treasure Global issued several growth-focused updates, including projected 2026 revenue expansion to USD 1.0–3.0 million, fintech and digital asset initiatives, and the OXI wallet launch. It also announced a 1-for-20 reverse stock split and a USD 2.5 million registered direct offering. Despite these developments, each of the last five news events saw sizeable negative 24-hour price reactions between -20.92% and -40.01%, indicating persistent selling pressure around announcements.

Market Pulse Summary

The stock dropped -34.8% in the session following this news. A negative reaction despite the mechani...

Analysis

The stock dropped -34.8% in the session following this news. A negative reaction despite the mechanical nature of the 1-for-20 reverse split fits a pattern where recent announcements have been followed by drops of -20.92% to -40.01%. The split reduces outstanding shares from 16,962,004 to about 848,100 and targets Nasdaq’s $1.00 bid requirement, but past history suggests skepticism toward corporate actions and growth messaging, which could have reinforced selling pressure.

Key Terms

reverse stock split, nasdaq capital market, cusip, convertible notes, +2 more

6 terms

reverse stock split financial

"announced that it will effect a 1-for-20 reverse stock split"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

nasdaq capital market regulatory

"Common Stock will continue to trade on the Nasdaq Capital Market"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

cusip financial

"The new CUSIP number for the Common Stock following the Reverse Stock Split will be 89458T403"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

convertible notes financial

"adjustments also will be made to shares underlying outstanding equity awards, warrants, and convertible notes"

Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.

par value financial

"Reverse Stock Split will not change the par value of the Common Stock"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

transfer agent financial

"The Company’s transfer agent, Vstock Transfer, LLC, will serve as the agent"

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

AI-generated analysis. Not financial advice.

KUALA LUMPUR, Malaysia, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a Southeast Asia–anchored technology company, today announced that it will effect a 1-for-20 reverse stock split (“Reverse Stock Split”) of its common stock, par value USD 0.00001 per share (“Common Stock”). Treasure Global’s Common Stock will continue to trade on the Nasdaq Capital Market (“Nasdaq”) under the existing ticker symbol “TGL” and will begin trading on a split-adjusted basis when the market opens on December 5, 2025. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 89458T403.

The Reverse Stock Split is intended to increase the per-share trading price of the Company’s Common Stock to assist in regaining compliance with the Nasdaq minimum bid price requirement of USD 1.00 per share. There can be no assurance that the Company will maintain long-term compliance with Nasdaq listing requirements.

On November 24, 2025, the Company’s stockholders approved a proposal to authorize a reverse stock split of the Common Stock at a ratio within the range of 1-for-2 and 1-for-20 with the authority delegated to the Board of the Directors of the Company, to determine the exact reverse split ratio and when to file the Certificate of Amendment with the Secretary of State of the State of Delaware. On December 2, 2025, the Company filed a Certificate of Amendment to its Certificate of Incorporation to effect the Reverse Stock Split at the ratio of 1-for-20.

The 1-for-20 Reverse Stock Split will automatically combine and convert twenty (20) current shares of the Common Stock into one (1) issued and outstanding new share of Common Stock. Proportional adjustments also will be made to shares underlying outstanding equity awards, warrants, and convertible notes, as well as to the number of shares issued and issuable under the Company’s stock incentive plans and certain existing agreements. The Reverse Stock Split will not change the par value of the Common Stock nor the authorized number of shares of Common Stock, preferred stock, or any series of preferred stock. The Reverse Stock Split will also proportionally reduce the Company’s outstanding shares of Common Stock from 16,962,004 shares to approximately 848,100 shares.

No fractional shares will be issued in connection with the Reverse Stock Split. All fractional shares will be rounded up to the next whole share. The Reverse Stock Split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s equity.

The Company’s transfer agent, Vstock Transfer, LLC, will serve as the agent for the Reverse Stock Split. Registered stockholders holding pre-split shares of the Common Stock electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares via a broker, bank, trust, or other nominee will have their positions automatically adjusted to reflect the Reverse Stock Split and will not be required to take any action in connection with the Reverse Stock Split.

About Treasure Global
Treasure Global is a Malaysia-based technology solutions provider specializing in innovative platforms that drive digital transformation in retail and services. The Company’s flagship product is the ZCITY Super App, which integrates e-payment solutions with customer loyalty rewards to create a seamless online-to-offline user experience. As of June 2025, ZCITY has attracted over 2.7 million registered users, positioning Treasure Global as a key player in Malaysia’s digital economy. Treasure Global continuously leverages cutting-edge technologies, including artificial intelligence and data analytics, to enhance its platform’s capabilities across e-commerce, fintech, and other verticals.

Visit treasureglobal.org for more information.

Forward-Looking Statements
This press 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. These statements reflect the Company’s current expectations, assumptions, and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements typically include terminology such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” or similar expressions.

Factors that could cause actual results to differ materially include, without limitation, the Company’s ability to expand its e-commerce platform and F&B distribution business, customer acceptance of new products and services, changes in economic conditions affecting its operations, the outcome of partnership discussions, the impact of global health crises, supply chain disruptions, competition, and regulatory risks related to data privacy and security. Additional risks include volatility in digital asset markets, potential vulnerabilities in custodial security, and evolving global and domestic regulatory frameworks applicable to blockchain technologies. These risks, along with other factors, are discussed in more detail in the Company’s filings with the U.S. Securities and Exchange Commission.

The forward-looking statements in this press release speak only as of the date hereof. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

CONTACT
Investor and media contact:
Investor Relations Team
Treasure Global
ir_us@treasureglobal.org

FAQ

What is the reverse stock split ratio for Treasure Global (TGL) and when does it take effect?

Treasure Global will implement a 1-for-20 reverse stock split that begins trading on a split-adjusted basis on December 5, 2025.

Why is Treasure Global (TGL) doing a 1-for-20 reverse split on December 5, 2025?

The Company said the split is intended to increase the per-share trading price to help regain compliance with Nasdaq's $1.00 minimum bid requirement.

How many shares of Treasure Global (TGL) will be outstanding after the 1-for-20 reverse split?

Outstanding shares will be reduced from 16,962,004 to approximately 848,100 following the reverse split.

Will Treasure Global (TGL) change its ticker or CUSIP after the reverse split?

The ticker will remain TGL on Nasdaq; the new CUSIP after the split will be 89458T403.

How will the reverse split affect Treasure Global (TGL) stockholders and equity awards?

The split will uniformly combine twenty pre-split shares into one post-split share and will proportionally adjust shares underlying equity awards, warrants, convertible notes, and plan share counts.

Do Treasure Global (TGL) shareholders need to take action to receive post-split shares?

Registered holders in book-entry form do not need to take action; shareholders holding through brokers or nominees will have positions automatically adjusted.