Item 5. Market for Registrant’s Common Equity
Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Shares of our Common Stock are currently quoted on the Nasdaq Capital Markets under the symbol “CENN”. We had 30,828,778 shares of Common Stock issued and outstanding as of December 31, 2023.
The following table sets forth, for the periods indicated, the high and low bid prices of our Common Stock.
High
Low
Fiscal Year Ended December 31, 2023 (1)
First Quarter
$
0.87
$
0.35
Second Quarter
$
0.49
$
0.28
Third Quarter
$
0.50
$
0.23
Fourth Quarter
$
1.59
$
1.21
Fiscal Year Ended December 31, 2022
First Quarter
$
5.57
$
1.05
Second Quarter
$
2.30
$
1.34
Third Quarter
$
1.82
$
0.95
Fourth Quarter
$
1.20
$
0.26
(1)
Accounts for a 1:10 reverse stock spit effective as of December 8, 2023.
53
Table of Contents
Holders of Capital Stock
As of December 31, 2023, we had 191 holders of our Common Stock.
Stock Option Grants
As of the date of this Annual Report, options to purchase an aggregate of 2,202,248 shares of Common Stock have been granted and 5,147 shares of Common Stock have been issued under the 2023 Plan.
Transfer Agent
The transfer agent for our Common Stock is Continental Stock Transfer & Trust Company. The transfer agent’s address is 1 State Street, 30th Floor, New York, NY 10004.
Dividends
To date, we have not declared or paid any dividends on our Common Stock. We currently do not anticipate paying any cash dividends in the foreseeable future on our Common Stock. Although we intend to retain our earnings, if any, to finance the
exploration and growth of our business, our Board of Directors has the discretion to declare and pay dividends in the future.
Payment of dividends in the future will depend upon our earnings, capital requirements, and any other factors that our Board of Directors deems relevant.
Recent Sales of Unregistered Securities
Except as set forth below or in a Current Report on Form 6-K or 8-K, there were no equity securities of the registrant sold by the registrant during the period covered by this annual report
that were not registered under the Securities Act other than the following transaction pursuant to the Redomiciliation:
On February 27, 2024, the Company completed the Redomiciliation. In connection with the Redomiciliation, Cenntro issued 30,828,778 (thirty million, eight hundred and twenty-eight
thousand, seven hundred and seventy-eight) shares of common stock, on the basis of one share of common stock for every one ordinary share of CEGL issued and outstanding prior to the Redomiciliation. The Redomiciliation was effected
pursuant to a statutory scheme of arrangement under Australian law (the “Scheme”). The issuance of Cenntro’s shares of common stock in the Scheme was exempt from registration under the Securities Act in reliance on Section 3(a)(10).
Item 6.
[Reserved]
Smaller reporting companies are not required to provide the information required by this item.