Nanjing, China – October 06, 2026 -- Scage Future (Nasdaq: SCAG) will change its American Depositary Share ratio from one ADS per one ordinary share to one ADS per fifteen ordinary shares, effective on or about October 30, 2026.
Reverse ADS split consolidates holdings fifteen-to-one
The ratio change will function as a one-for-fifteen reverse ADS split for existing holders. On the effective date, Citibank, N.A., the depositary bank, will automatically cancel existing ADSs and issue one new ADS for every fifteen previously held, with no action required from shareholders.
Fractional entitlements will be sold for cash
No fractional new ADSs will be issued. The depositary bank will aggregate and sell fractional entitlements, distributing net cash proceeds, after fees, taxes and expenses, to the affected ADS holders.
Ordinary share structure remains unchanged
The company's underlying ordinary shares will not be issued or cancelled as a result of the ratio change. ADSs will continue trading on the Nasdaq Capital Market under the ticker SCAG, though the CUSIP number will change from 80590A105 to a new identifier to be announced.
Company expects proportional price increase, offers no guarantee
Scage Future said the ADS trading price is expected to rise proportionally following the ratio change, but cautioned it cannot assure the post-change price will equal or exceed fifteen times the pre-change trading level.