Lion Group plans a one-for-twenty ADS consolidation for 10 September

Lion Group announced a planned ADS-ratio change on 7 September 2026.

Mechanics

Each American depositary share currently represents 292,500 Class A ordinary shares. The new ratio will be one ADS for 5,850,000 ordinary shares, equivalent to a one-for-twenty reverse ADS split.

The change is expected to take effect around 10 September, with the Nasdaq ticker remaining LGHL.

Uncertificated holdings in DRS and DTC will be exchanged automatically. Certificated holders must surrender their certificates through the depositary's process.

Economic effect

The underlying ordinary shares will not be issued or cancelled as part of this change. A holder's ADS count falls while the ordinary-share interest represented by each ADS rises.

Fractional entitlements will be aggregated and sold, with net proceeds distributed after applicable deductions.

A proportional increase in the quoted ADS price would reflect the changed unit of ownership, not an equivalent investment gain. Actual market pricing is not guaranteed.

The next checkpoint is implementation and the correct adjustment of holdings and historical price comparisons.

Source: Company announcement, 7 September 2026.