Token Cat Limited Announces Announces Planned ADS Ratio Change
Token Cat (NASDAQ: TC), a leading Chinese automotive marketplace, has announced plans to implement a 1-for-20 reverse ADS split effective August 29, 2025. The ratio of American depositary shares (ADSs) will change from 1 ADS representing 240 Class A ordinary shares to 1 ADS representing 4,800 Class A ordinary shares.
The exchange will occur automatically for ADS holders in The Depository Trust Company and Direct Registration System. Fractional ADSs will be aggregated, sold by the depositary bank, and the net proceeds distributed to applicable holders. The company's Class A ordinary shares remain unchanged, and TC will continue trading on the Nasdaq Capital Market under the same symbol.
Token Cat (NASDAQ: TC), importante piattaforma automobilistica cinese, ha annunciato l'efficacia di un raggruppamento inverso di ADS 1-per-20 a partire dal 29 agosto 2025. Di conseguenza, un American Depositary Share (ADS) passer脿 a rappresentare 4.800 azioni ordinarie di classe A invece delle attuali 240.
Lo scambio sar脿 eseguito automaticamente per gli detentori di ADS presso The Depository Trust Company e il Direct Registration System. Gli ADS frazionari saranno aggregati e venduti dalla banca depositaria; il ricavato netto sar脿 distribuito ai titolari interessati. Le azioni ordinarie di classe A della societ脿 non subiranno modifiche e TC continuer脿 a essere negoziata sul Nasdaq Capital Market con lo stesso simbolo.
Token Cat (NASDAQ: TC), un importante mercado automotriz chino, ha anunciado la implementaci贸n de un split inverso de ADS 1 por 20 con vigencia el 29 de agosto de 2025. As铆, cada American Depositary Share (ADS) pasar谩 de representar 240 acciones ordinarias Clase A a representar 4.800 acciones Clase A.
El intercambio se realizar谩 de forma autom谩tica para los tenedores de ADS en The Depository Trust Company y en el Direct Registration System. Los ADS fraccionarios se agrupar谩n y la entidad depositaria los vender谩; los ingresos netos se distribuir谩n a los titulares correspondientes. Las acciones ordinarias Clase A de la compa帽铆a permanecer谩n sin cambios y TC seguir谩 cotizando en el Nasdaq Capital Market con el mismo s铆mbolo.
Token Cat (NASDAQ: TC), 欷戧淡鞚� 欤检殧 鞛愲彊彀� 毵堨紦頂岆爤鞚挫姢鞚� 鞚� 須岇偓電� 2025雲� 8鞗� 29鞚茧秬搿� ADS 1雽�20 鞐硲頃�(毽矂鞀� 鞀ろ攲毽�)鞚� 鞁滍枆頃� 鞓堨爼鞚措澕瓿� 氚滍憸頄堨姷雼堧嫟. 鞚挫棎 霐半澕 1 ADS電� 旮办〈鞚� 240欤检潣 韥措灅鞀 氤错喌欤茧ゼ 雽�鞁犿暣 4,800欤检潣 韥措灅 A 氤错喌欤茧ゼ 雽�響滍晿瓴� 霅╇媹雼�.
ADS 氤挫湢鞛愳棎瓴岆姅 The Depository Trust Company 氚� Direct Registration System鞚� 韱淀暣 鞛愲彊鞙茧 甑愴櫂鞚� 鞚措（鞏挫雼堧嫟. 鞛旍棳(靻岇垬) ADS電� 鞓堩儊鞚�頄夓澊 韱淀暕頃橃棳 毵り皝頃橂┌, 靾滌垬鞚奠潃 頃措嫻 氤挫湢鞛愳棎瓴� 攵勲鞍霅╇媹雼�. 須岇偓鞚� 韥措灅鞀 氤错喌欤茧姅 氤�瓴诫悩歆� 鞎婌溂氅� TC電� 霃欖澕頃� 鞁臣搿� 雮橃姢雼� 旌愴敿韮� 毵堨紦鞐愳劀 瓿勳啀 瓯半灅霅╇媹雼�.
Token Cat (NASDAQ: TC), une place de march茅 automobile chinoise de premier plan, a annonc茅 la mise en 艙uvre d'un reverse split d'ADS 1 pour 20 脿 compter du 29 ao没t 2025. Ainsi, un American Depositary Share (ADS) repr茅sentera dor茅navant 4 800 actions ordinaires de classe A au lieu de 240.
L'茅change s'effectuera automatiquement pour les d茅tenteurs d'ADS au sein de The Depository Trust Company et du Direct Registration System. Les ADS fractionnaires seront regroup茅s et vendus par la banque d茅positaire ; le produit net sera distribu茅 aux titulaires concern茅s. Les actions ordinaires de classe A de la soci茅t茅 resteront inchang茅es et TC continuera d'锚tre n茅goci茅e sur le Nasdaq Capital Market sous le m锚me symbole.
Token Cat (NASDAQ: TC), ein f眉hrender chinesischer Automobil-Marktplatz, hat angek眉ndigt, zum 29. August 2025 einen 1-zu-20 Reverse-ADS-Split durchzuf眉hren. Dadurch wird ein American Depositary Share (ADS) k眉nftig 4.800 Stammaktien der Klasse A statt bisher 240 repr盲sentieren.
Der Austausch erfolgt automatisch f眉r ADS-Inhaber bei The Depository Trust Company und im Direct Registration System. Bruch-ADS werden zusammengelegt und von der Depositary-Bank verkauft; der Nettoerl枚s wird an die jeweiligen Inhaber verteilt. Die Klasse-A-Stammaktien des Unternehmens bleiben unver盲ndert, und TC wird weiterhin unter dem gleichen Tickersymbol am Nasdaq Capital Market gehandelt.
- None.
- The 1-for-20 reverse ADS split could be indicative of efforts to maintain Nasdaq listing requirements
- No assurance provided that the ADS price will maintain proportional value after the ratio change
Insights
Token Cat's 1:20 reverse ADS split aims to boost share price but doesn't change fundamental company value or structure.
Token Cat Limited is implementing what amounts to a 1-for-20 reverse ADS split, changing the ratio from 1 ADS representing 240 Class A shares to 1 ADS representing 4,800 Class A shares. This technical adjustment will occur on August 29, 2025. For existing shareholders, this means every 20 ADSs they currently hold will be automatically consolidated into 1 new ADS.
This ratio change is purely mechanical and doesn't alter the company's underlying value, market capitalization, or business operations. The primary visible effect will be a proportional increase in the ADS trading price 鈥� if an ADS was trading at $1 before the split, it would theoretically trade at $20 afterward, though market dynamics may cause variation.
Importantly, shareholders don't need to take any action as the exchange happens automatically. Any fractional shares resulting from the conversion will be sold, with cash proceeds distributed to affected shareholders.
Companies typically implement reverse splits to boost their share price, often to maintain compliance with exchange listing requirements (like Nasdaq's $1 minimum bid price). While Token Cat hasn't explicitly stated their motivation, this move suggests they're likely addressing share price concerns rather than signaling a fundamental business transformation.
BEIJING, Aug. 27, 2025 (GLOBE NEWSWIRE) -- Token Cat Limited ("Token Cat" or the "Company") (NASDAQ: TC), a leading automotive marketplace in China, today announced that it plans to change the ratio of its American depositary shares ("ADSs") from one (1) ADS representing two hundred and forty (240) Class A ordinary shares to one (1) ADS representing four thousand eight hundred (4800) Class A ordinary shares (the 鈥淎DS Ratio Change鈥�). The Company anticipates that the ADS Ratio Change will be effective on or about August 29, 2025 (the 鈥淓ffective Date鈥�).
For the Company鈥檚 ADS holders, the ADS Ratio Change will have the same effect as a one-for-twenty reverse ADS split. On the Effective Date, holders of ADSs in The Depository Trust Company and Direct Registration System will have their ADSs automatically exchanged and need not take any action. The exchange of every twenty then-held (existing) ADSs for one (1) new ADS will occur automatically at the Effective Date, with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank.
No fractional new ADSs will be issued in connection with the ADS Ratio Change. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the depositary bank.
There will be no change to the Company's Class A ordinary shares. As of the Effective Date, TC鈥檚 ADSs will continue to be traded on the Nasdaq Capital Market under the symbol "TC".
As a result of the ADS Ratio Change, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the ADS Ratio Change will be equal to or greater than the ADS price on a proportionate basis.
About Token Cat Limited
Founded in 2010, Token Cat Limited, formerly known as TuanChe Limited (NASDAQ:聽TC), is聽China's聽leading automotive marketplace platform. Token Cat is dedicated to connecting automotive consumers with manufacturers, dealers, and service providers. By integrating its digital platforms with offline sales events, Token Cat offers comprehensive automotive marketing and transaction services. Through its integrated marketing strategies, Token Cat transforms individual and independent car purchases into large-scale group buying experiences, using an interactive many-to-many model. Furthermore, leveraging its proprietary data analytics and advanced digital marketing system, Token Cat's online marketing service platform helps industry customers increase the efficiency and effectiveness of their advertising placements. Token Cat is currently exploring ways to enter into the cryptocurrency sector.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company's business plans and development, business outlook, which can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
For media inquiries, please contact:
Lydia Hu
SOURCE Token Cat Limited
FAQ
What is Token Cat's (TC) new ADS ratio after the August 2025 change?
How will the Token Cat (TC) ADS ratio change affect existing shareholders?
When will Token Cat's (NASDAQ:TC) ADS ratio change take effect?
Do Token Cat (TC) shareholders need to take any action for the ADS ratio change?
Will Token Cat's (TC) stock symbol change after the ADS ratio adjustment?
