Elong Power 1-for-45 Reverse Split

Elong Power Holding Limited (Nasdaq: ELPW), a provider of high-power battery technologies, announced a 1-for-45 reverse share split of its Class A and Class B ordinary shares. The reverse split was approved by shareholders at an extraordinary general meeting on January 6, 2026, and the board approved the specific ratio on July 31, 2026. The company initially announced the reverse split on August 6, 2026, and subsequently changed the effective date to August 10, 2026, at the open of trading on Nasdaq. The reverse split is intended to help the company maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), which requires a minimum closing bid price of $0.10. As a result, the company's outstanding shares will decrease from approximately 23 million to approximately 0.51 million, and the par value per share will increase from $0.0128 to $0.576. No fractional shares will be issued; fractional entitlements will be rounded up to one full share. The reverse split will not alter shareholders' percentage ownership, except for minor effects from fractional share treatment. The company's shares will continue trading under the symbol 'ELPW' with a new CUSIP number.