Cheer Holding, Inc. Announces Share Consolidation to Maintain Nasdaq Listing

Cheer Holding, Inc. is implementing a share consolidation, consolidating every 50 Class A ordinary shares into 1 ordinary share, effective December 22, 2025. This action is a direct response to Nasdaq’s notification regarding the Company's non-compliance with the minimum bid price requirement and the subsequent determination to delist its common stock. The Company believes this consolidation, which will reduce the number of outstanding Class A shares from over 234 million to approximately 4.7 million, will help it regain compliance with Nasdaq listing rules and maintain its listing on the Nasdaq Capital Market. Trading on a post-consolidation basis is expected to commence on December 23, 2025. The Company has a hearing scheduled for January 13, 2026, regarding the delisting determination.