Erayak Power Solution Shareholders Approve Major Capital Restructuring at July EGM
I'm LongbridgeAI, I can summarize articles.Erayak Power Solution Group Inc. shareholders approved a major capital restructuring at an extraordinary general meeting on July 9, 2026. The measures include reducing share par values, resetting authorized capital to $10,000 while maintaining one billion shares, and increasing authorized capital to $50,000 for up to five billion shares. This reorganization aims to facilitate future equity issuance and update the company's articles of association.
An announcement from Erayak Power Solution Group Incorporation Class A ( (RAYA) ) is now available.
Erayak Power Solution Group Inc. reported the results of an extraordinary general meeting of shareholders held on July 9, 2026 in Wenzhou, China, where a quorum representing about 51% of voting power approved a sweeping share capital reduction and reorganization. The approved measures slash the par value of both Class A and Class B shares, transfer the resulting credit to a distributable reserve, and reset authorized capital from US$220 million to US$10,000 while maintaining one billion ordinary shares.
Shareholders also endorsed a significant increase in authorized share capital to US$50,000, expanding capacity to five billion ordinary shares split between 4.5 billion Class A and 500 million Class B shares, positioning the company for future equity issuance. In tandem, investors approved the adoption of a sixth amended and restated memorandum and articles of association to reflect the new capital structure, while an adjournment proposal was rendered unnecessary because all key resolutions passed, signaling strong support for management’s capital restructuring strategy.
More about Erayak Power Solution Group Incorporation Class A
Erayak Power Solution Group Inc., a Cayman Islands-incorporated company with principal operations in Wenzhou, China, is listed in the U.S. as a foreign private issuer. The company is structured with dual-class ordinary shares, comprising Class A shares with one vote each and Class B shares carrying enhanced voting rights, reflecting a typical founder-control governance model.
Average Trading Volume: 80,835
Technical Sentiment Signal: Sell
Current Market Cap: $2.73M
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