Xiao-I announced that it plans to change the ratio of its American Depositary Shares to its ordinary shares from the current ADS Ratio of one ADS to one-third of an ordinary share, to a new ADS Ratio of one ADS to three ordinary shares. For the company’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-nine reverse ADS split. The company anticipates that the change in the ADS Ratio will be effective on or about August 23.
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