Earlyworks Co., Ltd. Sponsored ADR (ELWS) has released an update.
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Earlyworks Co., Ltd., a Japanese company known for its private blockchain technology, has successfully completed a ratio change of its American Depositary Shares (ADSs), effectively executing a reverse 1-for-5 ADS split. This adjustment aims to increase the trading price of its ADSs on the Nasdaq and ensure compliance with the exchange’s minimum bid price requirement, without altering shareholders’ proportional equity. No fractional ADSs were issued; instead, holders will receive cash proceeds for fractional entitlements.
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