Why Nova Lifestyle Shares Are Surging Today

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  • Nova Lifestyle Inc NVFY has completed a one-for-five reverse stock split.
  • On May 22, 2023, the company filed a certificate of change pursuant to NRS 78.209 with the Nevada Secretary of State to effect the reverse stock split.
  • As a result of the reverse stock split, every 5 shares of the company's issued and outstanding immediately before filing the Certificate of Change was consolidated into one issued and outstanding share.
  • All stockholders who would be entitled to receive fractional shares due to the reverse stock split received one whole share for their fractional share interest.
  • The stock will begin trading on a split-adjusted basis starting May 24, 2023.
  • The certificate of change also decreased the number of authorized shares of the company's common stock from 15 million to 3 million.
  • Price Action: NVFY shares are trading higher by 26% at $0.61 on the last check Tuesday.
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