TWG Announces 1-for-90 Share Consolidation

Rhea-AI Summary

Top Wealth Group (NASDAQ: TWG) has announced a 1-for-90 share consolidation of its Class A and Class B ordinary shares, effective July 21, 2025. The consolidation aims to regain compliance with Nasdaq's minimum bid price requirement (Rule 5550(a)(2)) to maintain its listing status.

Under the consolidation terms, every 90 outstanding ordinary shares with a par value of US$0.0001 will be consolidated into one share with a par value of US$0.009. The company will continue trading under the symbol "TWG" but with a new CUSIP number G8945S110. Any fractional shares resulting from the consolidation will be rounded up to the next whole number.

Positive

• Share consolidation helps maintain Nasdaq listing compliance
• Fractional shares will be rounded up, benefiting shareholders
• Unanimous approval from both board and shareholders

Negative

• Significant 1-for-90 consolidation ratio indicates severe price decline
• Risk of delisting if share price doesn't maintain compliance post-consolidation

Hong Kong, July 17, 2025 (GLOBE NEWSWIRE) -- Top Wealth Group Holding Limited (NASDAQ: TWG) (“Top Wealth” or the “Company”), announces the approval of the proposed 1-for-90 share consolidation of the Class A ordinary shares (“Class A Ordinary Shares”) and Class B ordinary shares (“Class B Ordinary Shares”, together with the Class A Ordinary Shares, the “Ordinary Shares”) of US0.0001 par value each (the “Share Consolidation”).

Beginning with the opening of trading on July 21, 2025, being the market effective date, the Class A Ordinary Shares will being trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol “TWG” but under a new CUSIP number of G8945S110. The objective of the Share Consolidation is to enable the Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market.

Upon the effectiveness of the Share Consolidation, every 90 issued and outstanding Ordinary Shares of a par value of US$0.0001 each will automatically be consolidated into one issued and outstanding Ordinary Share of par value US$0.009 each. No fractional shares will be issued as a result of the Share Consolidation. Instead, any fractional shares that would have resulted from the Share Consolidation will be rounded up to the next whole number. The Share Consolidation 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 Share Consolidation was approved by the Company’s board of directors on June 11, 2025 and its shareholders on April 8, 2025.

About Top Wealth Group Holding Limited

Top Wealth Group Holding Limited is a holding company incorporated in the Cayman Islands, and all of its operations are carried out by its operating subsidiary in Hong Kong, Top Wealth Group (International) Limited. The Company specializes in supplying premium-class sturgeon caviar, and its caviar and caviar products are endorsed with the Convention on International Trade in Endangered Species of Wild Fauna and Flora (“CITES”) permits. The Company supplies caviar to its customers under its customer’s brand labels (i.e. private labeling), and the Company also sells the caviar product under the Company’s caviar brand, “Imperial Cristal Caviar”, which has continuously achieved tremendous sales growth since its launch in the market.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in verbal statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

Top Wealth Group Holding Limited
Investor Relations
Email: ir@topwealth.cc

FAQ

When will TWG's 1-for-90 share consolidation take effect?

The share consolidation will take effect on July 21, 2025, when TWG shares begin trading on a post-consolidation basis on the Nasdaq Capital Market.

What happens to TWG shareholders' fractional shares after the consolidation?

Any fractional shares resulting from the 1-for-90 consolidation will be rounded up to the next whole number, benefiting shareholders.

Why is TWG implementing a share consolidation?

TWG is implementing the share consolidation to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market.

Will TWG's stock symbol change after the consolidation?

TWG will continue trading under the same symbol "TWG" but with a new CUSIP number G8945S110.

How does the TWG share consolidation affect shareholders' ownership percentage?

The share consolidation does not alter shareholders' percentage interest in TWG's outstanding Ordinary Shares, except for minor adjustments from fractional share rounding.