WORK Medical Technology Group (WOK) said Wednesday it plans to implement a reverse stock split of its ordinary shares on a 1-for-100 basis, effective Dec. 29.

Every 100 shares of the company's issued and outstanding class A ordinary shares will be combined into one class A ordinary share, and every 100 shares of its issued and outstanding class B ordinary shares will automatically be combined into one class B ordinary share, according to a statement.

The reverse stock split is being done to maintain compliance with the Nasdaq requirement of maintaining a minimum bid price, the company said.

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