NetClass Technology Inc (NTCL) Form 6-K — Oct 23, 2026
NetClass Technology has called an EGM to approve a 10-for-1 share consolidation of its Class A and Class B ordinary shares, effective November 20, 2026, to boost its share price back above Nasdaq's $1.00 minimum bid requirement. This is the company's second reverse split in under five months — it already effected a 50-for-1 split on July 6, 2026. Under Nasdaq Rule 5810(c)(3)(A)(iv), that prior split means any future bid-price failure triggers immediate delisting proceedings with no compliance period.
Key figures
- Reverse split ratio
- 10:1
- Effective date
- 2026-11-20
- Prior reverse split
- 50:1 effected July 6, 2026
- Prior cumulative ratio
- 500:1 if both splits take effect
- Authorized shares after
- 80,000,000 (76,000,000 Class A, 4,000,000 Class B) at $0.125 par
- Authorized shares before
- 800,000,000 (760,000,000 Class A, 40,000,000 Class B) at $0.0125 par
- Nasdaq minimum bid price
- $1.00
AI analysis
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