HWH International Inc. announced a 1-for-5 reverse stock split effective February 24, 2025, to meet Nasdaq listing requirements.
Quiver AI Summary
HWH International Inc. announced a 1-for-5 reverse stock split of its common stock, effective at 9:00 a.m. Eastern Time on February 24, 2025. This move aims to comply with Nasdaq's minimum bid price requirements. Following the split, trading will continue under the existing symbol "HWH," with adjustments made to the exercise prices and share counts of associated warrants, while the total number of authorized shares and par value will remain unchanged. Stockholders with fractional shares will receive cash payments instead. The split received approval from the majority of stockholders on January 16, 2025, and further details can be found in the Company's filing with the SEC. HWH International is a lifestyle company focused on enhancing health, wealth, and happiness through its diverse offerings.
Potential Positives
- The reverse stock split is designed to bring HWH International Inc. into compliance with Nasdaq's minimum bid price requirements, which could enhance the company's standing in the public market.
- The majority approval of the reverse stock split by stockholders and the Board of Directors demonstrates strong governance and support for strategic initiatives.
- The company maintains its current trading symbol “HWH,” allowing for continuity and familiarity for current investors and market participants.
Potential Negatives
- The announcement of a 1-for-5 reverse stock split raises concerns about the company's financial health, as it was primarily enacted to comply with Nasdaq's minimum bid price requirements, which suggests that the stock may have been underperforming.
- Reverse stock splits can be perceived negatively by investors, as they may signal that the company's stock is struggling and can lead to loss of investor confidence.
- No fractional shares will be issued, meaning investors with small amounts of stock will receive cash instead, which may be viewed negatively by shareholders preferring to retain a stake in the company.
FAQ
What is the date of HWH International Inc.'s reverse stock split?
The reverse stock split will take effect on February 24, 2025, at 9:00 a.m. Eastern Time.
How will the reverse stock split affect my shares?
Every 5 shares you hold will be reclassified into one new share of common stock, maintaining your rights and preferences.
What is the new CUSIP number after the stock split?
The new CUSIP number following the reverse stock split will be 44852G309.
Will fractional shares be issued due to the stock split?
No fractional shares will be issued; instead, stockholders will receive a cash payment for any fractions.
Where can I find more information about the reverse stock split?
Additional information is available in the definitive information statement filed with the SEC and on the Company's website.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HWH Insider Trading Activity
$HWH insiders have traded $HWH stock on the open market 4 times in the past 6 months. Of those trades, 4 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $HWH stock by insiders over the last 6 months:
- HENG FAI AMBROSE CHAN has made 4 purchases buying 11,746,301 shares for an estimated $7,386,757 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$HWH Hedge Fund Activity
We have seen 9 institutional investors add shares of $HWH stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG removed 58,437 shares (-93.8%) from their portfolio in Q4 2024, for an estimated $37,686
- GEODE CAPITAL MANAGEMENT, LLC added 40,583 shares (+303.4%) to their portfolio in Q4 2024, for an estimated $26,171
- HRT FINANCIAL LP added 33,615 shares (+inf%) to their portfolio in Q4 2024, for an estimated $21,678
- MILLENNIUM MANAGEMENT LLC added 20,264 shares (+inf%) to their portfolio in Q4 2024, for an estimated $13,068
- CITADEL ADVISORS LLC removed 19,537 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $12,599
- TWO SIGMA SECURITIES, LLC removed 15,473 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $9,978
- VIRTU FINANCIAL LLC added 15,104 shares (+inf%) to their portfolio in Q4 2024, for an estimated $9,740
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BETHESDA, MD, Feb. 20, 2025 (GLOBE NEWSWIRE) -- HWH International Inc. (the “Company”) (NASDAQ: HWH), a purpose-driven lifestyle company, today announced a 1-for-5 reverse stock split of the Company’s common stock to become effective at 9:00 a.m. (Eastern Time) on February 24, 2025. The Company’s common stock is expected to begin trading on a split-adjusted basis when the markets open on February 24, 2025, under the existing trading symbol “HWH.”
The reverse stock split is primarily intended to bring the Company into compliance with the minimum bid price requirements for maintaining its listing on the Nasdaq Capital Market. The new CUSIP number following the reverse stock split will be 44852G309.
As a result of the reverse stock split, every 5 shares of the Company’s common stock issued and outstanding or held by the Company as treasury stock will be automatically reclassified into one new share of common stock. The reverse stock split will not modify any rights or preferences of the shares of the Company’s common stock. Proportionate adjustments will be made to the exercise prices and the number of shares underlying the Company’s warrants. The common stock issued pursuant to the reverse stock split will remain fully paid and non-assessable. The reverse stock split will not affect the number of authorized shares of common stock or the par value of the common stock. The reverse stock split was approved by the majority of the Company’s stockholders by written consent and by the Company’s Board of Directors on January 16, 2025.
No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise have held a fractional share after giving effect to the reverse stock split will instead receive a cash payment in an amount equal to the fraction of a share of common stock to which the stockholder would have otherwise been entitled, multiplied by the closing price of the Company’s common stock as reported on The Nasdaq Stock Market on the date of the effectiveness of the reverse stock split.
Additional information about the reverse stock split can be found in the Company’s definitive information statement filed with the Securities and Exchange Commission (the “SEC”) on January 28, 2025, which is available free of charge at the SEC’s website, www.sec.gov , and on the Company’s website at www.hwhintl.com .
About HWH International Inc.
HWH International Inc. is a purpose-driven lifestyle company encompassing differentiated offerings from four core pillars: Hapi Marketplace, Hapi Cafe, Hapi Travel and Hapi Wealth Builder. The Company develops new pathways to help people in their pursuit of Health, Wealth and Happiness.
Forward Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions.
Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.
For investor and media inquiries, please contact:
HWH International Inc.
4800 Montgomery Lane, Suite 210
Bethesda, MD 20814
301-971-3955
[email protected]