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Xiao-I Corporation ("Xiao-I" or the "Company") (NASDAQ:AIXI), a leading artificial intelligence company, today announced that it plans to change the ratio of its American Depositary Shares (the "ADSs") to its ordinary shares (the "ADS Ratio"), par value US$0.00005 per share, from the current ADS Ratio of one ADS to one-third of an ordinary share to a new ADS Ratio of one ADS to 3 ordinary shares.
For the Company's ADS holders, the change in the ADS Ratio will have the same effect as a one-for-nine reverse ADS split. The Company anticipates that the change in the ADS Ratio will be effective on or about August 23, 2024 (U.S. Eastern Time) (the "Effective Date").
Posted In: AIXI
