Lion Group (LGHL) said Friday it plans to change the ratio of its American depositary shares to its Class A shares.
The new ratio will be one ADS to 2,500 Class A shares from the current ADS ratio of one ADS to 50 Class A shares, Lion said. It expects the change to be effective March 26.
The ratio change will have the same effect as a 1-for-50 reverse ADS split and is intended to help the company regain compliance with Nasdaq's minimum bid price requirement, it said.
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