Company: BGLC
Filing Date: 2025-04-10
Form Type: 8-K
Source: 0001477932-25-002574
Chunk: 0

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-10
Form: 8-K
Item: Item 3.03
Chunk 0
---
Item 3.03

Material Modification to Rights of Security Holders.

The Company’s previously reported one-for-ten (1-for-10) reverse stock split of its common stock became effective at 12:01 a. m. Eastern Time on April 7, 2025. The Company’s common stock begin trading on a split-adjusted basis on The Nasdaq Capital Market under the existing ticker symbol “ BGLC” on that same day. Immediately prior to the reverse stock split, the Company had 17,967,663 shares of common stock issued and outstanding and immediately after the reverse stock split, the Company had 1,796,597 shares of common stock issued and outstanding.

No fractional shares were issued in connection with the reverse stock split. Instead, shareholders who would otherwise be entitled to receive a fractional share received a cash payment in lieu thereof based on the daily Volume Weighted Average Price (VWAP) of our common stock, calculated for the ten (10) trading days immediately preceding the effective date of the Reverse Stock Split, multiplied by the fractional share. Note that the forgoing statement corrects the cash payment price previously reported by the Company.

The Reverse Split was conducted as part of efforts by the Company to regain compliance with Nasdaq Rule 5550(a)(2) (“ Minimum Bid Price Rule”) within the compliance period provided by Nasdaq, which was to regain compliance under this rule by May 1, 2025.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BioNexus Gene Lab Corp.

             /s/ Su-Leng Tan Lee      
  By:        Su-Leng Tan Lee          
             Chief Executive Officer  
  Date:      April 10, 2025           

   3