Lion Group announces plan to implement ADS ratio change

Lion Group (LGHL) Holding announced that it plans to change the ratio of its American Depositary Shares to its Class A ordinary shares, par value $0.0001 per share, from the current ADS Ratio of one ADS to fifty Class A ordinary share, to a new ADS Ratio of one ADS to two thousand and five hundred Class A ordinary shares. The company anticipates that the ADS Ratio Change will be effective on or about March 26, 2025. For the company’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-fifty reverse ADS split and is intended to enable the company to regain compliance with the Nasdaq minimum bid price requirement. On the Effective Date, registered holders of company ADSs held in certificated form will be required on a mandatory basis to surrender their certificated ADSs to the depositary bank for cancellation and will receive one new ADS in exchange for every fifty existing ADSs then-held. Holders of uncertificated ADSs in the Direct Registration System and in The Depository Trust Company will have their ADSs automatically exchanged and need not take any action. The exchange of every fifty existing ADSs for one new ADS will occur automatically, with existing ADSs being cancelled and new ADSs being issued by the depositary bank on the Effective Date.