CHARLES & COLVARD ANNOUNCES REVERSE STOCK SPLIT
RESEARCH TRIANGLE PARK, N.C., May 15, 2024 /PRNewswire/ — Charles & Colvard, Ltd. (Nasdaq: CTHR) (the “Company”), a globally recognized fine jewelry company that specializes in moissanite and lab grown diamonds, announced today that the Company’s Board of Directors has approved a one-for-ten (1:10) reverse split of the Company’s common stock, no par value per share (the “Reverse Stock Split”), to be effective as of 12:01 a.m. Eastern Time on May 17, 2024 (the “Effective Date”). The Reverse Stock Split is intended to bring the Company into compliance with Nasdaq’s $1.00 per share minimum bid price requirement for continued listing. The Company expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on May 17, 2024 with a new CUSIP number of 159765205. The ticker symbol for the Company stock will remain “CTHR.”