HONG
KONG, March 21, 2025 /PRNewswire/ -- Lion
Group Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL),
operator of an all-in-one trading platform that offers a wide
spectrum of products and services, today announced that it plans to
change the ratio of its American Depositary Shares ("ADSs") to its
Class A ordinary shares (the "ADS Ratio"), par value US$0.0001 per share, from the current ADS Ratio
of one (1) ADS to fifty (50) Class A ordinary share, to a new ADS
Ratio of one (1) ADS to two thousand and five hundred (2,500) Class
A ordinary shares (the "ADS Ratio Change"). The Company anticipates
that the ADS Ratio Change will be effective on or about
March 26, 2025 (the "Effective
Date").
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 (1) new ADS
in exchange for every fifty (50) existing ADSs then-held. Holders
of uncertificated ADSs in the Direct Registration System ("DRS")
and in The Depository Trust Company ("DTC") will have their ADSs
automatically exchanged and need not take any action. The exchange
of every fifty (50) existing ADSs for one (1) new ADS will occur
automatically, with existing ADSs being cancelled and new ADSs
being issued by the depositary bank on the Effective Date.
Lion's ADSs will continue to be traded under the ticker symbol
"LGHL" on the Nasdaq Capital Market. No fees will be charged to ADS
holders, for both certificated or uncertificated ADSs, in
connection with the exchange of existing ADSs for new ADSs.
No fractional new ADSs will be issued in connection with the change
in the ADS Ratio. Instead, fractional entitlements to new ADSs will
be aggregated and sold by the depositary bank and the net cash
proceeds from the sale of the fractional ADS entitlements (after
deduction of fees, taxes and expenses) will be distributed to the
applicable ADS holders by the depositary bank. The ADS Ratio Change
will have no impact on Lion's underlying Class A ordinary shares,
and no Class A ordinary shares will be issued or cancelled in
connection with the ADS Ratio Change.
As a result of the change in the ADS Ratio, Lion's ADS trading
price is expected to increase proportionally, although the Company
can give no assurance that the ADS trading price after the ADS
Ratio Change will be equal to or greater than fifty (50) times the
ADS trading price before the change.
About Lion Group Holding Ltd.
Lion Group Holding Ltd. (Nasdaq: LGHL) operates an all-in-one,
state-of-the-art trading platform that offers a wide spectrum of
products and services, including (i) total return service (TRS)
trading, (ii) contract-for-difference (CFD) trading,
(iii) Over-the-counter (OTC) stock options trading, and (iv)
futures and securities brokerage. Additional information may be
found at http://ir.liongrouphl.com.
Forward-Looking Statements
This press release contains, "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. These forward-looking statements are made under the
"safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Lion's actual results may differ from their
expectations, estimates and projections and consequently, you
should not rely on these forward-looking statements as predictions
of future events. Words such as "expect," "estimate," "project,"
"budget," "forecast," "anticipate," "intend," "plan," "may,"
"will," "could," "should," "believes," "predicts," "potential,"
"might" and "continues," and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements include, but are not limited to, statements about:
Lion's goals and strategies; our ability to retain and increase the
number of users, members and advertising customers, and expand its
service offerings; Lion's future business development, financial
condition and results of operations; expected changes in Lion's
revenues, costs or expenditures; the impact of COVID-19;
competition in the industry; relevant government policies and
regulations relating to our industry; general economic and business
conditions globally and in China; and assumptions underlying
or related to any of the foregoing. Lion cautions that the
foregoing list of factors is not exclusive. Lion cautions readers
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. Lion does not undertake or
accept any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements to reflect
any change in its expectations or any change in events, conditions
or circumstances on which any such statement is based, subject to
applicable law. Additional information concerning these and other
factors that may impact our expectations and projections can be
found in Lion's periodic filings with the SEC, including Lion's
Annual Report on Form 20-F for the fiscal year ended December
31, 2023. Lion's SEC filings are available publicly on the SEC's
website at www.sec.gov.
Contacts
Lion Group Holding Ltd.
Tel: +852 2820 9011
Email: ir@liongrouphl.com
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SOURCE Lion Group Holding Ltd.
