- 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.
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