Latest news with #NominatingandCorporateGovernanceCommittee
Business Wire
3 days ago
- Business
- Business Wire
ChargePoint Announces Reverse Stock Split
CAMPBELL, Calif.--(BUSINESS WIRE)-- ChargePoint (NYSE: CHPT the 'Company'), a leading provider of EV charging solutions, announced that today the Company implemented a reverse stock split of its common stock at a ratio of 1-for-20, which will be reflected at market open. The reverse stock split is intended to increase the market price per share of the Company's common stock and help the Company comply with the minimum trading price criteria for continued listing on the New York Stock Exchange (the 'NYSE'). On July 8, 2025, ChargePoint shareholders approved a reverse stock split ratio within a range of 1-for-2 to 1-for-30 at the Company's 2025 Annual Meeting of Stockholders (the 'Annual Meeting') and authorized the Company's Nominating and Corporate Governance Committee to determine and execute the final ratio. The Company's Nominating and Corporate Governance Committee subsequently approved the final reverse split ratio of 1-for-20. The reverse stock split will not modify any rights or preferences of the Company's common stock. The trading symbol for the Company's common stock will remain 'CHPT.' The new CUSIP number for the Company's common stock following the reverse stock split will be 15961R 303 and the new ISIN number will be US15961R3030. Effective as of 12:01 am Eastern Time today, July 28, 2025, every twenty (20) issued and outstanding shares of the Company's common stock have been converted into one share of the Company's common stock. The reverse stock split will affect all shareholders uniformly and will not affect any shareholder's percentage ownership interest in the Company (except to the extent that the reverse stock split would result in any of the shareholders owning a fractional interest). Shareholders who otherwise would be entitled to receive fractional shares will receive a cash payment in lieu of such fractional shares. Stockholders who hold their shares in 'street name' that is through a brokerage firm, bank, dealer or other similar organization, will have their positions automatically adjusted to reflect the reverse stock split, subject to each broker's particular processes, and do not need to take any action in connection with the reverse stock split. Stockholders of record will be receiving information from Continental Stock Transfer & Trust Company, the Company's transfer agent, regarding their stock ownership following the reverse stock split. Additional information regarding the reverse stock split and other matters voted on at the Annual Meeting can be found in the Form 8-K filed with the U.S. Securities and Exchange Commission on July 9, 2025, and on ChargePoint's Investor Relations website at ChargePoint and the ChargePoint logo are trademarks of ChargePoint, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. About ChargePoint Holdings, Inc. ChargePoint has established itself as the leader in electric vehicle (EV) charging innovation since its inception in 2007, long before EVs became widely available. The company provides comprehensive solutions tailored to the entire EV ecosystem, from the grid to the dashboard of the vehicle. The company serves EV drivers, charging station owners, vehicle manufacturers, and similar types of stakeholders. With a commitment to accessibility and reliability, ChargePoint's extensive portfolio of software, hardware, and services ensures a seamless charging experience for drivers across North America and Europe. ChargePoint empowers every driver in need of charging access, connecting them to over 1.25 million charging ports worldwide. ChargePoint has facilitated the powering of more than 16 billion electric miles, underscoring its dedication to reducing greenhouse gas emissions and electrifying the future of transportation. For further information, please visit the ChargePoint pressroom or the ChargePoint Investor Relations site. For media inquiries, contact the ChargePoint press office. Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding the commencement of trading of the Company's post-split Common Stock and the Company's potential to regain compliance with the continued listing standards of the NYSE. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release and additional risks and uncertainties that could affect our financial results or ability to comply with the NYSE continued listing requirements which are included under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our Form 10-Q filed with the Securities and Exchange Commission (the 'SEC') on June 6, 2025, which is available on our website at and on the SEC's website at Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law. CHPT-IR
Cision Canada
23-07-2025
- Business
- Cision Canada
Cango Inc. Announces Completion of Secondary Acquisition and Appointment of New Leadership Team
HONG KONG, /CNW/ -- Cango Inc. (NYSE: CANG) today announced its transformation into a global Bitcoin miner with the appointment of a new Board of Directors (the "Board") and senior management team with deep expertise in digital-asset infrastructure, finance, and energy investments. On July 23, 2025, the Board appointed (i) Mr. Xin Jin as Chairman of the Board and Non-Executive Director, (ii) Mr. Peng Yu as CEO and Director, (iii) Mr. Chang-Wei Chiu as Director, (iv) Mr. Yongyi Zhang as CFO and (v) Mr. Simon Ming Yeung Tang as CIO To strengthen governance, the Board also appointed (i) Mr. Chi Ming Lee, Independent Director, as a member of the Compensation Committee and Nominating and Corporate Governance Committee, (ii) Mr. Yanjun Lin, Independent Director, as Chairman of the Compensation Committee and member of the Nominating and Corporate Governance Committee, and (iii) Mr. Haitian Lu as Chairman of the Nominating and Corporate Governance Committee and member of the Compensation Committee. The Board also accepted the resignations of Mr. Xiaojun Zhang as Director and Chairman, and Mr. Jiayuan Lin as CEO, Interim CFO, and Director. All changes are effective immediately. Mr. Peng Yu, CEO and Director, commented, "This leadership team gives Cango the right mix of skills to execute our next phase of growth. Having successfully transformed into a Bitcoin miner, we have already made remarkable progress in the past 7 months by becoming one of the largest Bitcoin miners in the world. With a strong balance sheet and clear long-term vision, our collective experience will help us scale beyond the 50 EH/s already deployed, not only safeguarding but strategically growing our treasury of more than 4,000 Bitcoins to maximize shareholder value. We will begin developing sustainable, high-performance computing opportunities while strategically expanding upstream into dedicated power resources especially green energy that will create lasting value for shareholders and drive further growth." Mr. Xiaojun Zhang and Mr. Jiayuan Lin resigned as co-founders coinciding with a secondary sale of 10 million Class B shares to Enduring Wealth Capital Limited for US$70 million. They converted their remaining Class B shares into Class A shares, now holding 18.54% of total outstanding shares and 12.07% of voting power. Enduring Wealth Capital Limited now holds about 2.82% of outstanding shares and 36.73% of voting power.. Investor Relations Contact
