HeartCore Enterprises, Inc. (NASDAQ: HTCR), a consulting services company based in Tokyo, has announced that its Board of Directors has approved a 1-for-20 reverse stock split of its issued and outstanding common stock. This decision follows the approval by the company's stockholders on June 30, 2025, which granted the Board the authority to determine the exact split ratio within a range of 1-for-2 to 1-for-30. The reverse stock split is set to take effect on April 2, 2026, at 4:00 p.m. Eastern Time, with the company's common stock expected to begin trading on a reverse split-adjusted basis under a new CUSIP number, 42240Q 203, on the Nasdaq Capital Market starting April 6, 2026. The primary goal of this reverse split is to increase the price per share of the company's common stock to meet the $1.00 minimum bid price requirement for continued listing on Nasdaq. As of the effective time, every 20 shares of pre-reverse split common stock will automatically convert into one share of common stock, with any fractional shares being rounded up to the nearest whole share. The authorized number of shares and par value per share will remain unchanged. Adjustments will also be made to the number of shares issuable upon the exercise of the company's outstanding options and restricted stock units, as well as the number of shares authorized and reserved for issuance under the company's equity incentive plans. Stockholders holding shares electronically will not need to take any action to receive their post-reverse split shares, while those with physical stock certificates will receive instructions from the company's transfer agent, Transhare Corporation, for exchanging their certificates.

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