Gogoro Inc. announced its Annual General Meeting (AGM) to be held on May 28, 2025, where shareholders will vote on several resolutions, including the authorization for the Board of Directors to consolidate the company's share capital. This share consolidation, or reverse stock split, could range from no consolidation to a maximum ratio of 100:1.
The primary objective of this proposal is to increase the per-share trading price of Gogoro's ordinary shares to regain compliance with Nasdaq's minimum bid price requirement. The company received a notification on October 29, 2024, indicating its shares had traded below US$1.00 for 30 consecutive business days.
Shareholder approval of this proposal would grant the Board the flexibility to determine the exact ratio and timing of the share consolidation within one year. This action is considered crucial for maintaining the company's listing on Nasdaq and potentially making its shares more attractive to a broader range of institutional investors.
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