Welcome to our dedicated page for U-BX Technology Ltd. news (Ticker: UBXG), a resource for investors and traders seeking the latest updates and insights on U-BX Technology Ltd. stock.
U-BX Technology Ltd. (NASDAQ: UBXG) is a Beijing-based insurance technology company that focuses on AI-driven value-added services for insurance carriers and brokers in China. Its business updates and market developments are communicated through press releases and SEC reports that cover its operations, capital markets activity, and corporate governance.
News related to UBXG often highlights its digital promotion services, risk assessment services based on the Magic Mirror algorithm, and value-added bundled benefits for insurance carriers. Company announcements describe how it helps institutional clients improve social media visibility, generate revenue from consumer engagement, and access AI-based risk reports for auto insurance coverage.
Investors and observers following UBXG can find news on key capital markets events, such as the pricing and closing of its initial public offering of ordinary shares on the Nasdaq Capital Market, as well as subsequent actions like a 1-for-16 reverse stock split of its ordinary shares. Press releases also discuss how the company intends to use offering proceeds, including allocations to research and development, advertising and marketing, and general working capital, as stated by the company.
Another important stream of news involves Nasdaq listing compliance and corporate actions. U-BX Technology has reported receiving Nasdaq notification letters regarding minimum bid price and market value of listed securities requirements, along with granted compliance periods. Additional updates include shareholder meeting results, approvals of share capital increases, adoption of a dual-class share structure, potential name change to MindForge Inc., and changes in directors and committee roles.
This UBXG news page aggregates such disclosures, allowing readers to review company-issued information on its AI-based insurance technology offerings, share structure decisions, equity incentive plans, and other regulatory and corporate developments over time.
U-BX Technology (NASDAQ:UBXG) has announced a 1-for-16 reverse stock split effective November 27, 2024. The split will reduce outstanding ordinary shares from 29.7 million to approximately 1.9 million. The company will continue trading under the symbol 'UBXG' with a new CUSIP number G9161K112. The split was approved by shareholders on October 24, 2024, and the ratio was determined by the Board on November 2, 2024. The company will amend its Memorandum of Association to adjust the authorized shares and change the par value to $0.0016 per share. Shareholders entitled to fractional shares will receive one full share.
U-BX Technology (NASDAQ:UBXG) has received notifications from Nasdaq regarding two compliance issues. First, the company's stock price has been below $1.00 for 31 consecutive business days, violating Rule 5550(a)(2). Second, its Market Value of Listed Securities (MVLS) has been below $35 million for 30 consecutive business days, violating Rule 5550(b)(2). Nasdaq has granted U-BX until April 21, 2025 to regain compliance on both issues. The company must maintain a closing bid price of $1.00 or higher and an MVLS of $35 million or more for at least ten consecutive business days to resolve these matters.
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