IT Tech Packaging, Inc. Announces Reverse Stock Split

ملخص مفصل

IT Tech Packaging, Inc. (NYSE American: ITP) ("IT Tech Packaging" or the "Company"), a leading manufacturer and distributor of diversified paper products in North China, announced today that its Board of Directors has approved a reverse stock split of its common stock, par value $0.001 per share (the "Common Stock"), at a ratio of 1-for-40 (the "Reverse Stock Split").

BAODING, China, Nov. 11, 2026 /PRNewswire/ -- IT Tech Packaging, Inc. (NYSE American: ITP) ("IT Tech Packaging" or the "Company"), a leading manufacturer and distributor of diversified paper products in North China, announced today that its Board of Directors has approved a reverse stock split of its common stock, par value $0.001 per share (the "Common Stock"), at a ratio of 1-for-40 (the "Reverse Stock Split").

Under Nevada Revised Statutes ("NRS") Section 78.207, the Company may decrease its authorized shares of Common Stock and correspondingly decrease its number of issued and outstanding shares of Common Stock by resolution adopted by the Board of Directors, without obtaining the approval of the stockholders. The Reverse Stock Split will be effected by the Company filing a Certificate of Change (the "Certificate") pursuant to NRS Section 78.209 with the Secretary of State of the State of Nevada, to be effective as of the Effective Date.

On the Effective Date, the total number of shares of Common Stock held by each stockholder of the Company will be converted automatically into the number of shares of Common Stock equal to (i) the number of issued and outstanding shares of Common Stock held by such stockholder immediately prior to the Reverse Stock Split, divided by (ii) 40, with such resulting number of shares rounded up to the nearest whole share. The Company will issue one whole share of post-Reverse Stock Split Common Stock to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split.

The Reverse Stock Split has no effect on the par value of the Common Stock. Immediately after the Reverse Stock Split, each stockholder's percentage ownership interest in the Company and proportional voting power will remain unchanged, except for minor changes and adjustments that will result from the treatment of fractional shares.

مطلع المقال، مقتطف من Yahoo Finance. لقراءة المقال كاملًا، افتحه على موقع الناشر.