Scage Future (SCAG) plans a one-for-fifteen reverse ADS split, expected to take effect on or about October 30, 2026.
The ratio of American Depositary Shares (ADSs) to ordinary shares would change from one ADS per ordinary share to one ADS per fifteen ordinary shares. Holders would automatically receive one new ADS for every fifteen existing ADSs, with no action required. The ADSs will continue trading on the Nasdaq Capital Market under SCAG. The company expects the ADS trading price to increase proportionally, but does not assure a price equal to or greater than fifteen times the pre-change price.
Scage Future (SCAG) received two Nasdaq notifications on August 27, 2026 that its Market Value of Listed Securities (MVLS) and Market Value of Publicly Held Shares (MVPHS) no longer meet Nasdaq Global Market standards.
Nasdaq found Scage’s MVLS has been below the required US$50 million and its MVPHS below US$15 million for 30 consecutive business days from July 16 to August 26, 2026. The company has 180 calendar days, until February 23, 2027, to regain compliance by having MVLS and MVPHS at or above those thresholds for at least ten consecutive business days, or longer at Nasdaq’s discretion. Trading of Scage’s ADSs continues on Nasdaq, but a deficiency indicator will be displayed and the company will be listed as non-compliant. If compliance is not regained, the securities may be delisted, subject to appeal or a potential transfer to the Nasdaq Capital Market. Business operations are stated to be unaffected.
Scage Future (Nasdaq: SCAG) received a Nasdaq notice on June 11, 2026 for not meeting the US$1.00 minimum bid price under Listing Rule 5550(a)(2), after its ADSs closed below US$1.00 for 30 consecutive business days.
The company has 180 calendar days to regain compliance by achieving at least US$1.00 closing bid for 10 consecutive business days. Listing and operations remain unchanged for now, and Scage may consider actions such as a reverse share split.