Articles from U-BX TECHNOLOGY LTD.

NEW YORK, Nov. 25, 2024 (GLOBE NEWSWIRE) -- U-BX Technology Ltd. (the "Company" or "U-BX") (NASDAQ:UBXG), a leading company providing value-added services using artificial intelligence-driven technology to businesses within the insurance industry, including insurance carriers and brokers, today announced that it has resolved to effect a reverse stock split of the Company’s ordinary shares and has determined the ratio to be 1-for-16. At the Company’s annual meeting of shareholders held on October 24, 2024, the Company’s shareholders approved a reverse stock split and granted the Company’s Board of Directors the authority to determine the exact split ratio and on November 2, 2024, the Company’s Board of Directors determined the ratio to be 1-for-16. U-BX’s ordinary shares will begin trading on an adjusted basis giving effect to the reverse stock split on November 27, 2024 under the existing ticker symbol “UBXG”. The new CUSIP number of the Company’s ordinary shares will be G9161K112.

BEIJING, Oct. 25, 2024 (GLOBE NEWSWIRE) -- U-BX Technology Ltd. (the "Company" or "U-BX") (NASDAQ:UBXG), a leading company providing value-added services using artificial intelligence-driven technology to businesses within the insurance industry, including insurance carriers and brokers, today announced that it has received written notifications (the "Notification Letters") from the Listings Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on Oct. 21, 2024. The Notification Letters advised the Company that for the last 31 consecutive business days, the minimum closing bid price per share for the Company's ordinary shares was below the $1.00 per share requirement for continued listing under Nasdaq Listing Rule 5550(a)(2). The Notification Letters also advised the Company that for the last 30 consecutive business days, the minimum Market Value of Listed Securities (MVLS) of the Company was below the $35 million requirement for continued listing under Nasdaq Listing Rule 5550(b)(2).