Lion Announces Plan to Implement ADS Ratio Change

Lion Group Holding (LGHL)/b) plans to change its ADS-to-Class A ordinary share ratio, effective on or about September 10, 2026.

Rhea-AI Summary

Lion Group Holding (LGHL)/b) plans to change its ADS-to-Class A ordinary share ratio, effective on or about September 10, 2026.The ADS Ratio will move from 1 ADS representing 292,500 Class A ordinary shares to 1 ADS representing 5,850,000 Class A ordinary shares, which the company says will have the same effect as a one-for-twenty reverse ADS split. Certificated ADS holders must surrender old certificates for new ones, while ADSs held in DRS or DTC will be exchanged automatically. No fees will be charged for the exchange, no fractional ADSs will be issued, and the underlying Class A ordinary shares will not be affected.

News Explained

Lion Group Holding’s ADS ratio change remains planned, not effective, with effectiveness anticipated on or about September 10, 2026; if implemented, every 20 ADSs would become one, while the underlying Class A ordinary shares remain unchanged.

Market Context

At publication, LGHL was -0.98% from its prior close, while the current plan followed an earlier ADS...

Analysis

At publication, LGHL was -0.98% from its prior close, while the current plan followed an earlier ADS ratio-change announcement that recorded a -25.22% 24-hour reaction.

Key Figures

Current ADS ratio: 292,500 Class A ordinary shares per ADS New ADS ratio: 5,850,000 Class A ordinary shares per ADS Effective date: September 10, 2026 +3 more

Current ADS ratio

292,500 Class A ordinary shares per ADS

Before the ADS Ratio Change

New ADS ratio

5,850,000 Class A ordinary shares per ADS

Proposed ADS Ratio Change

Effective date

September 10, 2026

Anticipated effective date

Reverse ADS split equivalent

One-for-twenty

Effect for ADS holders

ADS exchange

1 new ADS for every 20 existing ADSs

Automatic exchange on the Effective Date

ADS holder fees

No fees

Exchange of certificated and uncertificated ADSs

Historical Context

1 past event · Latest: Jul 09

1 event

1. Jul 09

   ADS ratio change

   24h Move

   -25.2%

   Prior ratio-change plan coincided with a 25.22% 24-hour decline in LGHL.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

american depositary shares, ads ratio, reverse ads split, direct registration system

4 terms

american depositary shares financial

"American Depositary Shares ("ADSs")"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

ads ratio financial

"change the ratio of its American Depositary Shares"

The ads ratio measures the proportion of a company's revenue that comes from advertising activities compared to other sources. It helps investors understand how much of a company's income depends on advertising efforts, similar to how a restaurant's income might rely heavily on dine-in sales versus takeout. A higher ads ratio indicates a greater dependence on advertising-related revenue, which can signal potential risks or opportunities depending on market trends.

reverse ads split financial

"same effect as a one-for-twenty reverse ADS split"

A reverse ADS split is a corporate action that combines multiple American Depositary Shares (ADS) into a smaller number of ADS, so each new ADS represents more underlying ordinary shares and the price per ADS rises proportionally. Think of merging several small coins into one bigger coin: your total value stays the same, but the share count and per‑share price change, which can affect trading liquidity, index inclusion, and investor perception of the stock.

direct registration system financial

"uncertificated ADSs in the Direct Registration System ("DRS")"

A direct registration system allows investors to register their ownership of securities directly with the issuing company or its transfer agent, rather than holding shares through a broker or intermediary. This setup gives investors more control over their holdings and simplifies the process of buying or selling shares. It is important because it can reduce costs, increase transparency, and provide a clearer record of ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SINGAPORE, Sept. 7, 2026 /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$0.0000001 per share, from the current ADS Ratio of two hundred ninety-two thousand and five hundred (292,500) Class A ordinary shares, to a new ADS Ratio of one (1) ADS to five million eight hundred and fifty thousand (5,850,000) Class A ordinary shares (the "ADS Ratio Change"). The Company anticipates that the ADS Ratio Change will be effective on or about September 10, 2026 (the "Effective Date").

For the Company's ADS holders, the change in the ADS Ratio will have the same effect as a one-for-twenty reverse ADS split. 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 twenty (20) 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 twenty 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 twenty (20) 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, and (iii) Over-the-counter (OTC) stock options trading. 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; 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, 2025. Lion's SEC filings are available publicly on the SEC's website at www.sec.gov.

Contacts

Lion Group Holding Ltd.
Tel: +65 8877 3871
Email: ir@liongrouphl.com 

View original content:https://www.prnewswire.com/news-releases/lion-announces-plan-to-implement-ads-ratio-change-302870918.html

SOURCE Lion Group Holding Ltd.

FAQ

What exactly is changing in Lion's ADS ratio?

The ratio of Lion's American Depositary Shares to its Class A ordinary shares will change from one ADS representing 292,500 Class A ordinary shares to one ADS representing 5,850,000 Class A ordinary shares.

When is the ADS ratio change expected to take effect?

The ADS ratio change is anticipated to become effective on or about September 10, 2026.

How does this relate to a reverse ADS split?

The company states that, for ADS holders, the change in the ADS ratio will have the same effect as a one-for-twenty reverse ADS split, with every twenty existing ADSs being exchanged for one new ADS.

What actions must certificated and book-entry ADS holders take?

Registered holders of certificated ADSs must surrender their certificates to the depositary bank for cancellation and will receive one new ADS for every twenty existing ADSs. Holders of uncertificated ADSs in the Direct Registration System and in The Depository Trust Company will have their ADSs exchanged automatically and do not need to take any action.

How will fractional ADS entitlements be handled?

No fractional new ADSs will be issued. Fractional entitlements will be aggregated and sold by the depositary bank, and the net cash proceeds after fees, taxes and expenses will be distributed to the applicable ADS holders.

Will the ADS ratio change affect Lion's underlying Class A ordinary shares?

The ADS ratio change will not affect Lion's underlying Class A ordinary shares, and no Class A ordinary shares will be issued or cancelled in connection with the change.

How is Lion's ADS trading price expected to be affected?

As a result of the change in the ADS ratio, Lion's ADS trading price is expected to increase proportionally, although the company states it cannot assure that the price after the change will be equal to or greater than twenty times the ADS trading price before the change.