(RTTNews) - ChargePoint (CHPT), a leading EV charging solutions provider, has enacted a 1-for-20 reverse stock split of its common stock, effective July 28, 2025.
This move is aimed at boosting the stock price and ensuring compliance with the NYSE's minimum trading price requirements.
The reverse split was approved by shareholders at ChargePoint's 2025 Annual Meeting, where they authorized a ratio range of 1-for-2 to 1-for-30. The Company's Nominating and Corporate Governance Committee finalized the 1-for-20 ratio.
Under the split, every 20 issued and outstanding shares have been consolidated into one share. The adjustment applies uniformly to all shareholders and does not alter their proportional ownership, except in cases involving fractional shares, which will be settled in cash.
The stock will continue trading under the ticker symbol "CHPT." However, it now carries a new CUSIP number (15961R 303) and ISIN (US15961R3030). Shareholders holding shares in brokerage accounts will see automatic adjustments, while those holding shares directly will receive updated ownership information from the transfer agent, Continental Stock Transfer & Trust Company.
Monday, CHPT closed at $9.91, down 18.85%, and edged up 0.40% in after-hours trading to $9.95 on the NYSE.
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