Cheer Holding, Inc. (NASDAQ:CHR) shares surged 9.42% after hours to $0.87 on Thursday after announcing a 1-for-3 reverse stock split, effective Apr. 6, to maintain its Nasdaq listing.

Consolidation Details Investors Should Watch

The Beijing-based mobile internet infrastructure provider said the consolidation reduces outstanding Class A shares from approximately 4.69 million to 1.56 million.

Post-consolidation shares begin trading under the unchanged ticker “CHR” on Apr. 7, with par value adjusting from $0.05 to $0.15 per Class A ordinary share, reflecting the 1-for-3 consolidation ratio.

According to the company, outstanding warrants and other equity rights will be proportionately adjusted, with fractional shares rounded up to the ...