Ambow Education announces plan to change the ratio of its ADSs

Ambow Education Holding announced its plan to change the ratio of its American depositary shares, or ADSs, to its Class A ordinary shares from one ADS, representing two Class A ordinary shares, to one ADS representing twenty Class A ordinary shares. The ADS Ratio Change is expected to become effective on or about February 2. The ADS Ratio Change will have the same effect as a one-for-10 reverse ADS split for ADS holders. The ADS Ratio Change will have no impact on the Company’s underlying Class A ordinary shares, and no Class A ordinary shares will be issued or canceled in connection with the ADS Ratio Change. The ADSs will continue to be traded on NYSE American under the symbol “AMBO.” The Company expects this ratio change will restore the Company’s compliance with the NYSE American’s continued listing standards, as set forth by the NYSE and disclosed by Ambow on October 10, 2023.