SOS Limited announced on November 4, 2024, its plan to change the ratio of its American Depositary Shares (ADSs). The new ratio will be one (1) ADS representing one hundred and fifty (150) Class A ordinary shares, a significant adjustment from the previous ratio of one (1) ADS representing ten (10) Class A ordinary shares.
This ADS Ratio Change is anticipated to become effective on or about November 19, 2024. For current ADS holders, this action will have the same effect as a one-for-fifteen reverse ADS split, meaning every fifteen existing ADSs will be exchanged for one new ADS.
The company stated that no fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold by the depositary bank, with net cash proceeds distributed to applicable ADS holders. The Class A ordinary shares will not undergo any changes as a result of this ratio adjustment.
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