#China #Nanjing #ADS Ratio #Zero-Emission #Scage Future

Scage Future Announces Changes in ADS Ratio

In a noteworthy development, Scage Future, listed on Nasdaq under the ticker SCAG, has unveiled a change in the ratio of its American Depositary Shares (ADSs) to its ordinary shares. This decision reflects the company's ongoing commitment to enhancing shareholder value and streamlining its equity structure.

Effective Date and New CUSIP Number

The new ADS ratio will shift from one ADS for one ordinary share to one ADS for fifteen ordinary shares, marking a transformative moment for the company and its investors. This change will officially take effect on October 27, 2026. Simultaneously, Scage Future will issue a new CUSIP number for its ADSs, transitioning from 80590A105 to 80590A204, ensuring clarity and transparency in this significant adjustment.

Impact on ADS Holders

For those holding ADSs, this ratio change will essentially act as a one-for-fifteen reverse split. On the effective date, investors will automatically receive new ADSs proportional to their existing holdings, resulting in one new ADS for every fifteen ADSs they currently possess. Importantly, this transaction will be managed seamlessly via Citibank, N.A., the designated depositary bank for Scage Future's ADS program, with no action required from the ADS holders themselves.

Moreover, it is crucial to note that fractional new ADSs will not be issued. Instead, any fractional entitlements will be aggregated and sold by the depositary bank, with the proceeds distributed among shareholders after accounting for fees and taxes.

No Effect on Ordinary Shares

It's worth emphasizing that this adjustment will not impact the underlying ordinary shares of Scage Future. The company reassures its investors that no ordinary shares will be created or cancelled as part of this transition, reinforcing the integrity of its stock structure.

Scage Future's ADS will continue trading on the Nasdaq Global Market, allowing investors to maintain their positions in a company dedicated to leading the zero-emission vehicle market. The change in the ADS ratio may lead to an increase in the trading price proportionally, although Scage Future has clearly stated that it cannot guarantee that the post-change ADS trading price will reach or exceed fifteen times the previous price.

About Scage Future

As a prominent provider in the zero-emission technology realm, Scage Future aims to revolutionize global commercial transport with its advanced heavy-duty new energy vehicles (NEVs) and innovative e-fuel solutions. The company collaborates with top vehicle manufacturers to ensure high-quality production and performance of its vehicles, including the prominent Dragon II and Galaxy II models, which cater to diverse sectors such as logistics and mining.

Scage Future's mission centers around sustainable transportation, and with strategic partnerships and a robust fleet, it continues to lead by example in the fight against carbon emissions in the transportation industry.

Conclusion

With this crucial adjustment, Scage Future is positioning itself for long-term growth and stability. The company encourages all ADS holders to stay informed about further developments and highlights the importance of being engaged as it advances its pivotal initiatives in zero-emission transportation solutions. For more inquiries, investors can reach out to Scage Future's Investor Relations, led by Emily Wang, to gain insights and further clarification regarding this significant transition.