SHANGHAI, May 20, 2022 /PRNewswire/ -- Boqii Holding
Limited ("Boqii" or the "Company") (NYSE: BQ), a leading
pet-focused platform in China,
today announced that it plans to change the ratio of its American
depositary shares ("ADSs") to Class A ordinary shares from one (1)
ADS representing three fourths (0.75) Class A ordinary shares to
one (1) ADS representing six (6) Class A ordinary shares (the "ADS
Ratio Change"). The ADS Ratio Change is expected to become
effective on or about May 31, 2022
(U.S. Eastern Time).
For Boqii's ADS holders, the ADS Ratio Change will have the same
effect as a one-for-eight reverse split on
the existing ADSs. Each ADS holder of record at the close of
business on the date when the ADS Ratio Change is effective will be
required to surrender and exchange every eight (8) existing ADSs
then held for one (1) new ADS. The Bank of New York Mellon
("BNY Mellon"), as the depositary
bank for Boqii's ADS program, will arrange for the exchange of
current ADSs for new ADSs (subject to receipt of applicable ADS
fees from the exchanging ADS holders). No action is required by
holders of uncertificated ADSs to effect the ADS Ratio Change, as the change will be
effected on the books of the ADS depositary.
No fractional new ADSs will be issued in connection with the ADS
Ratio Change. Instead, BNY Mellon will
attempt to sell any fractional entitlements to new ADSs 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 BNY Mellon. Boqii's ADSs will continue to be
traded on the New York Stock Exchange under the ticker symbol "BQ".
The change in the ADS Ratio will have no impact on Boqii's
underlying Class A ordinary shares, and no Class A ordinary shares
will be issued or cancelled in connection with the ADS Ratio
Change.
As a result of the ADS Ratio Change, our 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 eight (8) times the ADS price before the
change.
About Boqii Holding Limited
Boqii Holding Limited (NYSE: BQ) is a leading pet-focused
platform in China. We are the
leading online destination for pet products and supplies in
China with our broad selection of
high-quality products including global leading brands, local
emerging brands, and our own private label, Yoken and Mocare,
offered at competitive prices. Our online sales platforms,
including Boqii Mall and our flagship stores on third-party
e-commerce platforms, provide customers with convenient access to a
wide selection of high-quality pet products and an engaging and
personalized shopping experience. Our Boqii Community provides an
informative and interactive content platform for users to share
their knowledge and love for pets.
For more information, please visit: http://ir.boqii.com/.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. The Company may also make written or oral
forward-looking statements in its reports filed with, or furnished
to, the U.S. Securities and Exchange Commission (the "SEC"), in its
annual reports to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about the Company's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties.
Further information regarding such risks, uncertainties or
factors is included in the Company's filings with the SEC. All
information provided in this press release is as of the date of
this press release, and the Company does not undertake any duty to
update such information, except as required under applicable
law.
For investor and media inquiries, please contact:
Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com
DLK Advisory Limited
Tel: +852-2857-7101
Email: ir@dlkadvisory.com
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SOURCE Boqii Holding Limited