Bit Brother Adopts 1 For 15 Reverse Share Split

by Shivani Kumaresan, Benzinga Staff Writer

December 14, 2022 10:45 AM | 1 min read |

Bit Brother Ltd BTB said that a 1 for 15 reverse split of its class A ordinary shares was approved by the company's board of directors on September 29, 2022.
The reverse split is expected to become effective on or around December 15, 2022.
Upon the effectiveness, Bit Brother shareholders will receive one new class A ordinary share for every fifteen shares they hold.
Bit Brother's class A ordinary shares are expected to begin trading on a split-adjusted basis when the market opens on December 15, 2022.
As of December 12, 2022, about 116.8 million of Bit Brother's class A ordinary shares were outstanding. Effecting the reverse split will reduce that amount to about 7.8 million.
Price Action: BTB shares are trading lower by 20.74% at $0.4201 on the last check Wednesday.