Company: BGLC
Filing Date: 2025-02-10
Form Type: PRE 14A
Source: 0001477932-25-000832
Chunk: 18

Company: BioNexus Gene Lab Corp
Filing Date: 2025-02-10
Form: PRE 14A
Chunk 18
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. We believe that a range of Reverse Stock Split ratios provides us with the most flexibility to achieve the desired results of the Reverse Stock Split. The Reverse Stock Split ratio to be selected by our Board will not be more than 1-for-10.

The selection of the specific Reverse Stock Split ratio will be based on several factors, including, among other things:

| · | our ability to maintain the listing of our Common Stock on the Nasdaq Capital Market;                                 |
| · | the per share price of our Common Stock immediately prior to the Reverse Stock Split;                                 |
| · | the expected stability of the per share price of our Common Stock following the Reverse Stock Split;                  |
| · | the likelihood that the Reverse Stock Split will result in increased marketability and liquidity of our Common Stock; |
| · | prevailing market conditions;                                                                                         |
| · | general economic conditions in our industry; and                                                                      |
| · | our market capitalization before, and anticipated market capitalization after, the Reverse Stock Split.               |

We believe that granting our Board the authority to set the ratio for the Reverse Stock Split is essential because it allows us to take these factors into consideration and to react to changing market conditions. If the Board chooses to implement the Reverse Stock Split, the Company will make a public announcement regarding the determination of the Reverse Stock Split ratio.

Board Discretion to Effect the Reverse Stock Split

If the Reverse Stock Split Proposal is approved by our stockholders, the Board will have the discretion to implement the Reverse Stock Split or to not effect the Reverse Stock Split and to determine the Reverse Stock Split ratio. The Board currently intends to effect the Reverse Stock Split. Even if the trading price of our Common Stock increases without effecting the Reverse Stock Split, the Reverse Stock Split may not be necessary to meet the Nasdaq Capital Market listing requirements, but the Board may elect to implement the Reverse Stock Split for the other reasons noted above. Following the Reverse Stock Split, if implemented, there can be no assurance that the market price of our Common Stock will rise in proportion to the reduction in the number of outstanding shares resulting from the Reverse Stock Split or that the market price of the post-split Common Stock can be maintained above $1.00. There also can be no assurance that our Common Stock will not be delisted from the Nasdaq Capital Market for other reasons.

In approving the Reverse Stock Split, the Board has determined that the fractional share repurchase price shall be based on a daily Volume Weighted Average Price (VWAP) of our