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U Power Ltd. (NASDAQ:UCAR) shares jumped 20% in after-hours trading on Tuesday to $0.046 ahead of the company’s 10-for-1 reverse stock split, which takes effect at Wednesday’s market open.
According to Benzinga Pro data, stock of the Chinese energy technology company closed the regular session at $0.038, down 30.02%.
Split Details
According to a Mar. 25 Securities and Exchange Commission filing, the reverse split was originally scheduled for Monday before being postponed.
Post-consolidation, UCAR will trade under the same Nasdaq ticker but a new CUSIP number.
The filing states that fractional shares will not be paid in cash; instead, shareholders will have their holdings rounded up to …
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