LGHLW Lion Group Holding Ltd

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of February 2025

 

Commission File Number: 001-39301

 

LION GROUP HOLDING LTD.

 

Not Applicable
(Translation of registrant’s name into English)

 

Cayman Islands
(Jurisdiction of incorporation or organization)

 

3 Phillip Street, #15-04 Royal Group Building

Singapore 048693
(Address of principal executive office)

 

Registrant’s phone number, including area code
+65 8877 3871

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒           Form 40-F ☐

 

 

 

Lion Group Holding Ltd. (Nasdaq: LGHL) (the “Company”), today announced to hold the Extraordinary Shareholders’ Meeting on March 7, 2025.

 

The Company’s Annual Shareholders’ Meeting will be held on March 7, 2025, at 10:00 a.m. local time. The meeting will take place at 3 Phillip Street, #15-04 Royal Group Building, Singapore 048693. The matters to be voted on at the meeting are set forth in the Company’s Form 6-K filed with the U.S. Securities and Exchange Commission on February 18, 2025. Shareholders of record on February 12, 2025 will be eligible to vote at this meeting.

 

INCORPORATION BY REFERENCE

 

This Report on Form 6-K shall be deemed to be incorporated by reference into the registration statements on Form F-3 (No. 333-269333) and Form S-8 (No. 333-251127) of the Company and the prospectuses incorporated therein, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

 

 

EXHIBIT INDEX

 

Exhibit 99.1	-	Notice of Extraordinary General Meeting of Shareholders of Lion Group Holding Ltd. to be held on March 7, 2025 (the “2025 EGM”)
Exhibit 99.2	-	Form of Proxy for the 2025 EGM
Exhibit 99.3	-	Depositary’s Notice of 2025 EGM
Exhibit 99.4	-	Voting Instructions of American Depositary Shares for the 2025 EGM

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: February 18, 2025	LION GROUP HOLDING LTD.
	By:	/s/ Chunning Wang
	Name:	Chunning Wang
	Title:	Chief Executive Officer and Director

 

 

3

Exhibit 99.1

 

LION GROUP HOLDING LTD.

NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

TO BE HELD ON MARCH 7, 2025

 

Notice is hereby given that Lion Group Holding Ltd., a Cayman Islands company (the “Company”), will hold its Extraordinary General meeting of shareholders at 10:00 a.m., local time, on March 7, 2025 (the “Extraordinary General Meeting”) at 3 Phillip Street, #15-04 Royal Group Building, Singapore 048693, to consider and, if thought fit, to pass the following resolutions:

 

1.A.

RESOLVED as an special resolution: the consolidation of each 1,000 shares of the Company with a par value of US$0.0000001 into one share of a par value of US$0.0001 with the result of an authorised capital of US$5,000,000 divided into 50,000,000,000 shares with a nominal value of US$0.0001 each, comprising (a) 40,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each.

 

2.A.	RESOLVED as an ordinary resolution: the increase of the Company’s authorised capital by US$15,000,000, to be divided into 150,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each, with the result of an authorised capital of US$20,000,000, shares with a nominal value of US$0.0001 each, comprising (a) 190,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001  each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each.
2.B.	RESOLVED as a special resolution, to approve that Section 6 of the fifth amended and restated memorandum of association of the Company being replaced with the following:   “6. The capital of the Company is US$20,000,000 divided into 200,000,000,000 shares with a nominal or par value of US$0.0001 each, comprising (a) 190,000,000,000 Class A Ordinary Shares of a par value of US$ 0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each. Subject to the Companies Act and the Articles of Association the Company shall have power to redeem or purchase any of its shares and to sub-divide or consolidate the said shares or any of them and to issue all or any part of its capital whether original, redeemed, increased or reduced with or without any preference, priority, special privilege or other rights or subject to any postponement of rights or to any conditions or restrictions whatsoever and so that unless the conditions of issue shall otherwise expressly provide every issue of shares whether stated to be ordinary, preference or otherwise shall be subject to the powers on the part of the Company hereinbefore provided. Shares and other securities of the Company may be issued by the Directors with such preferred, deferred or other special rights, restrictions or privileges whether in regard to voting, distributions, a return of capital, or otherwise and in such classes and series, if any, as the Directors may determine.”

 

 

You can find more information about each of these items in the attached proxy statement. Only holders of Class A Ordinary Shares or Class B Ordinary Shares (collectively, “Ordinary Shares”) registered in the register of members at the close of business on February 12, 2025, New York time, can vote at the Extraordinary General Meeting or at any adjournment that may take place. If you are a holder of American Depositary Shares, please see the discussion in the attached proxy statement under the heading “Voting by Holders of American Depositary Shares.”

 

We cordially invite all holders of Ordinary Shares to attend the Extraordinary General Meeting in person. However, holders of Ordinary Shares entitled to attend and vote are entitled to appoint a proxy to attend and vote instead of such holders. A proxy needs not be a shareholder of the Company. If you are a holder of Ordinary Shares and whether or not you expect to attend the Extraordinary General Meeting in person, please mark, date, sign and return the enclosed form of proxy as promptly as possible to ensure your representation and the presence of a quorum at the Extraordinary General Meeting. If you send in your form of proxy and then decide to attend the Extraordinary General Meeting to vote your Ordinary Shares in person, you may still do so. Your proxy is revocable in accordance with the procedures set forth in the proxy statement. The enclosed form of proxy is to be delivered to the attention of Chunning Wang, Chief Executive Officer, Lion Group Holding Ltd., 3 Phillip Street, #15-04 Royal Group Building, Singapore 048693, and must arrive no later than the time for holding the Extraordinary General Meeting or any adjournment thereof. This notice of the Extraordinary General Meeting of Shareholders and the attached proxy statement are also available through our website at http:// ir.liongrouphl.com.

 

	By Order of the Board of Directors,
	/s/ Chunning Wang
	Chunning Wang
	Chief Executive Officer and Director
	Date: February 18, 2025

 

 

LION GROUP HOLDING LTD.

 

PROXY STATEMENT

 

General

 

The board of directors of Lion Group Holding Ltd., a Cayman Islands company (the “Company”), is soliciting proxies for the Extraordinary General meeting of shareholders to be held on March 7, 2025 at 10:00 a.m., local time, or at any adjournment or postponement thereof (the “Extraordinary General Meeting”). The Extraordinary General Meeting will be held at 3 Phillip Street, #15-04 Royal Group Building, Singapore 048693.

 

Record Date, Share Ownership and Quorum

 

Record holders of Class A Ordinary Shares or Class B Ordinary Shares (collectively, “Ordinary Shares”) as of the close of business on February 12, 2025, New York time, are entitled to vote at the Extraordinary General Meeting. As of February 12, 2025, 1,281,237,399 of our Class A Ordinary Shares, par value US$0.0001 per share, and 65,387,845 of our Class B Ordinary Shares, par value US$0.0001 per share, were issued and outstanding. As of February 12, 2025, approximately 1,263,082,900 of our Class A Ordinary Shares were represented by American Depositary Shares (“ADSs”). One or more holders of Ordinary Shares which represent, in aggregate, a majority of the paid up voting share capital of the Company present in person or by proxy or, if a corporation or other non-natural person, by its authorized representative shall be a quorum for all purposes.

 

The Board of Directors recommends a vote “FOR” each proposal from Proposals No. 1-3.

 

Voting and Solicitation

 

Each Class A Ordinary Share shall be entitled to one (1) vote on all matters subject to the vote at the Extraordinary General Meeting, and each Class B Ordinary Share shall be entitled to ten thousands (10,000) votes on all matters subject to the vote at the Extraordinary General Meeting.

 

At the Extraordinary General Meeting, every holder of Ordinary Shares present in person or by proxy may vote the fully paid Ordinary Shares held by such holder of Ordinary Shares. A resolution put to the vote of a meeting shall be decided on a poll. Except as required by applicable law and subject to the terms and conditions of the Articles, the holders of Class A Ordinary Shares and Class B Ordinary Shares shall vote together as one class on all matters submitted to a vote at the Extraordinary General Meeting. The affirmative vote of a simple majority of the votes of the holders of Ordinary Shares present in person or represented by proxy and entitled to vote at the Extraordinary General Meeting will be required to pass each of the proposed resolutions submitted to a vote at the Extraordinary General Meeting.

 

The costs of soliciting proxies will be borne by us. Proxies may be solicited by certain of our directors, officers and regular employees, without additional compensation, in person or by telephone or electronic mail. Copies of solicitation materials will be furnished to banks, brokers, fiduciaries and custodians holding in their names our Ordinary Shares or ADSs beneficially owned by others to forward to those beneficial owners.

 

Voting by Holders of Ordinary Shares

 

Holders of Ordinary Shares whose shares are registered in their own names may vote by attending the Extraordinary General Meeting in person or by completing, dating, signing and returning the enclosed form of proxy to the attention of Chunning Wang, Chief Executive Officer, Lion Group Holding Ltd., 3 Phillip Street, #15-04 Royal Group Building, Singapore 048693. The form of proxy must arrive no later than the time for holding the Extraordinary General Meeting or any adjournment thereof.

 

 

When proxies are properly completed, dated, signed and returned by holders of Ordinary Shares, the Ordinary Shares they represent, unless the proxies are revoked, will be voted at the Extraordinary General Meeting in accordance with the instructions of the shareholder. If no specific instructions are given by such holders, the Ordinary Shares will be voted “FOR” each proposal and in the proxy holder’s discretion as to other matters that may properly come before the Extraordinary General Meeting. Abstentions and broker non-votes will be counted as present for purposes of determining whether a quorum is present. Abstentions will have the same effect as a vote against each of the proposed resolutions submitted to a vote at the Extraordinary General Meeting. Broker non-votes will have the same effect as a vote against each of the proposed resolutions submitted to vote at the Extraordinary General Meeting.

 

Please refer to this proxy statement for information related to the proposed resolutions.

 

Voting by Holders of American Depositary Shares

 

Deutsche Bank Trust Company Americas, as depositary of the ADSs, has advised us that it intends to mail to all record owners of ADSs a voting instruction card and a depositary notice for record owners of ADSs. Upon the written request of an owner of record of ADSs by such owner’s delivery of a properly completed, dated and signed voting instruction card to Deutsche Bank Trust Company Americas prior to 10:00 am, New York City time on March 4, 2025, Deutsche Bank Trust Company Americas will endeavor, in so far as practicable, to vote or cause to be voted the amount of Class A Ordinary Shares or other deposited securities represented by such ADSs, evidenced by American Depositary Receipts related to those ADSs, in accordance with the instructions set forth in such request. Deutsche Bank Trust Company Americas has advised us that it will not vote or attempt to exercise the right to vote other than in accordance with those instructions. As the holder of record for all the Class A Ordinary Shares represented by all of our ADSs, only Deutsche Bank Trust Company Americas may vote those Class A Ordinary Shares at the Extraordinary General Meeting.

 

In the event that the Deutsche Bank Trust Company Americas timely receives voting instructions from a holder which fail to specify the manner in which the depositary is to vote the Class A Ordinary Shares represented by such holder’s ADSs, the depositary shall (unless otherwise specified in the notice distributed to holders) deem such holder to have instructed the depositary to give a discretionary proxy to a person designated by the Company with respect to such the Class A Ordinary Shares and the depositary shall give a discretionary proxy to a person designated by the Company to vote such Class A Ordinary Shares.

 

Revocability of Proxies

 

Any proxy given pursuant to this solicitation may be revoked by the person giving it at any time before its use by delivering a written notice of revocation or a duly executed proxy bearing a later date or, if you hold Ordinary Shares, by attending the meeting and voting in person. A written notice of revocation must be delivered to the attention of Lion Group Holding Ltd., if you hold our Ordinary Shares, or to Deutsche Bank Trust Company Americas if you hold ADSs representing our Class A Ordinary Shares.

 

ANNUAL REPORT TO SHAREHOLDERS

 

The Company makes available its annual report to shareholders through the Company’s website. The 2023 annual report for the year ended December 31, 2023 (the “2023 Annual Report”) has been filed with the U.S. Securities and Exchange Commission. The Company adopted this practice to avoid the considerable expense associated with mailing physical copies of such report to record holders and beneficial owners of the Company’s ADSs. You may obtain a copy of our 2023 Annual Report by visiting the “Investor Relations” heading under the “Financial Information” section of the Company’s website at https://ir.liongrouphl.com/#/Overview. If you want to receive a paper or email copy of the Company’s 2023 Annual Report, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy to the Investor Relations department of the Company, at ir@liongrouphl.com.

 

 

PROPOSAL 1A

 

General

 

The Board of Directors believes that it is in the best interest of the Company and the shareholders, and is hereby soliciting shareholder to approve the consolidation of each 1,000 shares of the Company with a par value of US$0.0000001 into one share of a par value of US$0.0001 with the result of an authorised capital of US$5,000,000 divided into 50,000,000,000 shares with a nominal value of US$0.0001 each, comprising (a) 40,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each (the “First Proposal”). The approval and adoption of the First Proposal will have no material impact to the current shareholders of the Company because the shareholders of the Company previously approved the increase of the authorized shares 1,000 times on December 23, 2024, which has not come into effect in the Company’s register of members and the issued and outstanding shares.

 

The First Proposal must be passed by a special resolution which requires a majority of note less than two-thirds of the votes held by the shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of the Company.

 

The resolutions put to the shareholders to consider and to vote upon at the Extraordinary General Meeting are:

 

“IT IS HEREBY RESOLVED, as a special resolution, that: each 1,000 shares of the Company with a par value of US$0.0000001 shall be consolidated into one share of a par value of US$0.0001 with the result of an authorised capital of authorised capital of US$5,000,000 divided into 50,000,000,000 shares with a nominal value of US$0.0001 each, comprising (a) 40,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each.

 

Vote Required and Board Recommendation

 

If a quorum is present, the affirmative vote of a majority of not less than two-thirds the votes of the holders of Ordinary Shares present in person or represented by proxy and entitled to vote at the Extraordinary General Meeting will be required to approve First Proposal.

 

THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” PROPOSAL 1A.

 

 

PROPOSAL 2A-2B

 

The Increase of Authorized Capital and the Resulting Amendment to the Company’s Memorandum of Association

 

Proposal 2A

 

The Board of Directors believes that it is in the best interest of the Company and the shareholders, and is hereby soliciting shareholder approval, to approve the increase of the Company’s authorised capital by US$15,000,000, to be divided into 150,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each, with the result of an authorised capital of US$20,000,000, shares with a nominal value of US$0.0001 each, comprising (a) 190,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each (the “Increase of Authorized Capital Proposal”).

 

The Increase of Authorized Capital must be passed by an ordinary resolution which requires the affirmative vote of a simple majority of the votes cast at the Extraordinary General Meeting by the shareholders present in person or represented by proxy and entitled to vote on such proposals, either in person, by proxy or by authorized representative.

 

Proposal 2B

 

If our shareholders approve proposal 2A, our Board of Directors will seek the shareholders’ approval to amend the Company’s fifth amended and restated memorandum of association accordingly. The amendment to the existing memorandum or association of the Company must be approved by a special resolution which requires the affirmative vote of not less than two-thirds of the votes cast at the Extraordinary General Meeting by the shareholders present in person or represented by proxy and entitled to vote on such proposals, either in person, by proxy or by authorized representative.

 

If the shareholders approve this proposal, our Board of Directors will instruct the registered office to file the notice to amend the fifth amended and restated memorandum of association with the Cayman Islands Registrar of Companies at any time after the approval of the Increase of Authorized Capital. The resolutions (the “Amendment Proposal”) put to the shareholders to consider and to vote upon at the Extraordinary General Meeting in relation to increasing the authorized share capital of the Company and amending the Company’s fifth amended and restated memorandum of association are:

 

“IT IS HEREBY RESOLVED, as a special resolution, that:

 

(A)	Section 6 of the fifth amended and restated memorandum of association of the Company be replaced with the following:

 

“6. The capital of the Company is US$20,000,000 divided into 200,000,000,000 shares with a nominal or par value of US$0.0001 each, comprising (a) 190,000,000,000 Class A Ordinary Shares of a par value of US$ 0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each. Subject to the Companies Act and the Articles of Association the Company shall have power to redeem or purchase any of its shares and to sub-divide or consolidate the said shares or any of them and to issue all or any part of its capital whether original, redeemed, increased or reduced with or without any preference, priority, special privilege or other rights or subject to any postponement of rights or to any conditions or restrictions whatsoever and so that unless the conditions of issue shall otherwise expressly provide every issue of shares whether stated to be ordinary, preference or otherwise shall be subject to the powers on the part of the Company hereinbefore provided. Shares and other securities of the Company may be issued by the Directors with such preferred, deferred or other special rights, restrictions or privileges whether in regard to voting, distributions, a return of capital, or otherwise and in such classes and series, if any, as the Directors may determine.”

 

Vote Required and Board Recommendation

 

If a quorum is present, the affirmative vote of a majority of not less than two-thirds the votes of the holders of Ordinary Shares present in person or represented by proxy and entitled to vote at the Extraordinary General Meeting will be required to approve the Increase of Authorized Capital and the sixth amended and restated memorandum of association.

 

THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” PROPOSALS 2A-2B.

 

 

 

PROPOSAL 3

 

The Adjournment Proposal

 

The adjournment proposal, if approved, will request the chairman of the Extraordinary General Meeting (who has agreed to act accordingly) to adjourn the Extraordinary General Meeting to a later date or dates to permit further solicitation of proxies. The adjournment proposal will only be presented to our shareholders in the event, based on the tabulated votes, there are not sufficient votes at the time of the Extraordinary General Meeting to approve the proposals in this proxy statement. If the adjournment proposal is not approved by our stockholders, the chairman of the meeting has the power to adjourn the Extraordinary General Meeting to a later date in the event, based on the tabulated votes, there are not sufficient votes at the time of the Extraordinary General Meeting to approve the proposals.

 

Vote Required and Board of Directors’ Recommendation

 

If a majority of the votes of the shares which were present in person or by proxy and voting on the matter at the Extraordinary General Meeting vote for the adjournment proposal, the chairman of the Extraordinary General Meeting will exercise his or her power to adjourn the meeting as set out above.

 

Recommendation

 

The Company’s Board of Directors recommends that you vote “FOR” the adjournment proposal.

 

OTHER MATTERS 

 

We know of no other matters to be submitted to the Extraordinary General Meeting. If any other matters properly come before the Extraordinary General Meeting, it is the intention of the persons named in the enclosed form of proxy to vote the shares they represent as the Board of Directors may recommend.

 

 

	By Order of the Board of Directors,
	/s/ Chunning Wang
	Chunning Wang
	Chief Executive Officer and Director
	Date: February 18, 2025

 

 

8

 

Exhibit 99.2

 

LION GROUP HOLDING LTD.

(incorporated in the Cayman Islands with limited liability)

 

FORM OF PROXY FOR THE EXTRAORDINARY GENERAL MEETING

to be held on March 7, 2025

(or any adjourned or postponed meeting thereof)

 

I/we, the undersigned acknowledges receipt of the Notice of Extraordinary General Meeting of Shareholders and Proxy Statement and, being the registered holder of ________________ Class A Ordinary Shares¹ , par value US$0.0001 per share, and ________________ Class B Ordinary Shares², par value US$0.0001 per share (together with Class A Ordinary Shares, “Ordinary Shares”), of Lion Group Holding Ltd. (the “Company”), hereby appoint Mr. Chunning Wang, Director of the Company or (Name) _____________________________________________of (Address)____________________________________________________________________________as my/our proxy to attend and act for me/us at the Extraordinary General Meeting³ (or at any adjournment or postponement thereof) of the Company to be held at 10:00 a.m., local time, on March 7, 2025 at 3 Phillip Street, #15-04 Royal Group Building, Singapore 048693.

 

My/our proxy is instructed to vote on the resolutions in respect of the matters specified in the Notice of the Extraordinary General Meeting as indicated below:

 

1.A.

RESOLVED as a special resolution: each 1,000 shares of the Company with a par value of US$0.0000001 shall be consolidated into one share of a par value of US$0.0001 with the result of an authorised capital of US$5,000,000 divided into 50,000,000,000 shares with a nominal value of US$0.0001 each, comprising (a) 40,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001  each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each.

For   ☐

Against   ☐

Abstain   ☐

 

1	Please insert the number of Class A Ordinary Shares registered in your name(s) to which this proxy relates. If no number is inserted, this form of proxy will be deemed to relate to all the shares in the Company registered in your name(s).

 

2	Please insert the number of Class B Ordinary Shares registered in your name(s) to which this proxy relates. If no number is inserted, this form of proxy will be deemed to relate to all the shares in the Company registered in your name(s).

 

3

If any proxy other than Mr. Chunning Wang, Director of the Company is preferred, strike out the words Mr. Chunning Wang, Director of the Company, and insert the name and address of the proxy desired in the space provided. A proxy needs not be a shareholder. If you are the holder of two or more Ordinary Shares, you may appoint more than one proxy to represent you and vote on your behalf at the Extraordinary General Meeting. Any alteration made to this form of proxy must be initialed by the person(s) who sign(s) it.

 

2.A	RESOLVED as an ordinary resolution that: the Company’s authorised capital shall increase by US$15,000,000, to be divided into 150,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each, with the result of an authorised capital of US$20,000,000, shares with a nominal value of US$0.0001 each, comprising (a) 190,000,000,000 Class A Ordinary Shares of a par value of US$0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each.	For   ☐	Against   ☐	Abstain   ☐
2.B	RESOLVED as a special resolution, to approve that Section 6 of the fifth amended and restated memorandum of association of the Company being replaced with the following:   “6. The capital of the Company is US$20,000,000 divided into 200,000,000,000 shares with a nominal or par value of US$0.0001 each, comprising (a) 190,000,000,000 Class A Ordinary Shares of a par value of US$ 0.0001 each; (b) 7,500,000,000 Class B Ordinary Shares of a par value of US$0.0001 each; and (c) 2,500,000,000 preferred Shares of a par value of US$0.0001 each. Subject to the Companies Act and the Articles of Association the Company shall have power to redeem or purchase any of its shares and to sub-divide or consolidate the said shares or any of them and to issue all or any part of its capital whether original, redeemed, increased or reduced with or without any preference, priority, special privilege or other rights or subject to any postponement of rights or to any conditions or restrictions whatsoever and so that unless the conditions of issue shall otherwise expressly provide every issue of shares whether stated to be ordinary, preference or otherwise shall be subject to the powers on the part of the Company hereinbefore provided. Shares and other securities of the Company may be issued by the Directors with such preferred, deferred or other special rights, restrictions or privileges whether in regard to voting, distributions, a return of capital, or otherwise and in such classes and series, if any, as the Directors may determine.”	For   ☐	Against   ☐	Abstain   ☐
3.	RESOLVED as an ordinary resolution, to approve to direct the chairman of the Extraordinary General meeting to adjourn the Extraordinary General meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the meeting, there are not sufficient votes to approve the proposals 1, 2.A, and 2.B.	For   ☐	Against   ☐	Abstain   ☐

 

 

Dated_________________, 2025

Signature (s) ___________________

Name of Signature _______________________

Name of Shareholder _____________________

 

Notes:

 

1.	Only the holders of record of the Class A Ordinary Shares or Class B Ordinary Shares of the Company at the close of business on February 12, 2025, New York time, should use this form of proxy.

 

2.

Please indicate your voting preference by ticking, or inserting in the number of shares to be voted for or against or to abstain, the boxes above in respect of each resolution. If NO instruction is given, your proxy will vote or abstain from voting at his/her discretion. If any other matter properly comes before the Extraordinary General Meeting, or any adjournment or postponement thereof, which may properly be acted upon, unless otherwise indicated, your proxy will vote or abstain from voting at his/her discretion.

 

3.	Any alteration made to this form of proxy must be initialed by the person(s) who sign(s) it.

 

4.	This form of proxy must be signed by you or your attorney duly authorized in writing or, in the case of a corporation, must be either under seal or executed under the hand of an officer or attorney duly authorized to sign the same. In the case of joint holders, all holders must sign.

 

5.

This form of proxy and any authority under which it is executed (or a notarized and/or duly certified copy of such authority) must be returned to the attention of Mr. Chunning Wang, Chief Executive Officer, Lion Group Holding Ltd., 3 Phillip Street, #15-04 Royal Group Building, Singapore 048693 no later than the time for holding the Extraordinary General Meeting or any adjournment thereof.

 

6.	Completion and return of the form of proxy will not prevent you from attending and voting in person at the Extraordinary General Meeting.

 

 

 

 

Exhibit 99.3

 

 

February 18, 2025

 

Lion Group Holding Limited

Please be advised of the following Final Depositary’s Notice of Extraordinary General Meeting of Shareholders:

 

Depositary Receipt Information
CUSIP:	53620U300	(DTC Eligible)	ADS ISIN:	US53620U3005
CUSIP:	53620U409	(Not DTC Eligible)	ADS ISIN:	US53620U4094

 

Country of Incorporation:	Cayman Islands
Meeting Details:	Extraordinary General Meeting at 10:00 a.m.,local time at 3 Phillip Street, #15-04 Royal Group Building, Singapore 048693
ADS Record Date:	February 12, 2025
Voting Deadline:	March 04, 2025 at 10:00 AM EST
Meeting Date:	March 07, 2025
Meeting Agenda:	The Company’s Notice of Meeting, including the Agenda, is available at the Company’s website: http://ir.liongrouphl.com
Ratio (ORD:ADS):	50:1

 

Holders of American Depositary Shares (“ADSs”) representing ordinary shares (the “Deposited Securities”) of Lion Group Holding Limited (the “Company”) are hereby notified of the Company’s Extraordinary General Meeting of shareholders. A copy of the Notice of Meeting from the Company, which includes the agenda, is available at http://ir.liongrouphl.com.

 

Holders of ADSs as of the close of business on the ADS Record Date stated above will be entitled, subject to any applicable law, the provisions of the deposit agreement entered into between the Company, Deutsche Bank Trust Company Americas (the “Depositary”) and the Holders of ADSs (the “Deposit Agreement”), the Company’s memorandum and articles of association and the provisions of or governing the Deposited Securities, to instruct the Depositary as to the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by such Holder’s ADSs.

 

In order for a voting instruction to be valid, Holders must complete, sign and return the enclosed voting instruction form so that it is received by the voting deadline stated above. Voting instructions may be given only in respect of a number of ADSs representing an integral number of Deposited Securities. Upon the timely receipt of voting instructions of a Holder on the ADS Record Date in the manner specified by the Depositary, the Depositary shall endeavor, insofar as practicable and permitted under applicable law, the provisions of the Deposit Agreement, the Company’s memorandum and articles of association and the provisions of or governing the Deposited Securities, to vote or cause the custodian to vote the Deposited Securities (in person or by proxy) represented by ADSs evidenced by such receipt in accordance with such voting instructions.

 

 

Holders are advised that in the event that (i) the Depositary timely receives voting instructions from a Holder which fail to specify the manner in which the Depositary is to vote the Deposited Securities represented by such Holder’s ADSs or (ii) no timely instructions are received by the Depositary from a Holder with respect to any of the Deposited Securities represented by the ADSs held by such Holder on the ADS Record Date, the Depositary shall deem such Holder to have instructed the Depositary to give a discretionary proxy to a person designated by the Company with respect to such Deposited Securities and the Depositary shall give a discretionary proxy to a person designated by the Company to vote such Deposited Securities, provided, however, that no such instruction shall be deemed to have been given and no such discretionary proxy shall be given with respect to any matter as to which the Company informs the Depositary (and the Company agrees to provide such information as promptly as practicable in writing, if applicable) that (x) the Company does not wish to give such proxy, (y) the Company is aware or should reasonably be aware that substantial opposition exists from Holders against the outcome for which the person designated by the Company would otherwise vote or (z) the outcome for which the person designated by the Company would otherwise vote would materially and adversely affect the rights of holders of Deposited Securities, provided, further, that the Company will have no liability to any Holder or Beneficial Owner (as defined below) resulting from such notification.

 

Additionally, Holders are advised that in the event that voting on any resolution or matter is conducted on a show of hands basis in accordance with the Company’s memorandum and articles of association, the Depositary will refrain from voting and the voting instructions (or the deemed voting instructions, as set out above) received by the Depositary from Holders shall lapse. The Depositary will have no obligation to demand voting on a poll basis with respect to any resolution and shall have no liability to any Holder or Beneficial Owner for not having demanded voting on a poll basis.

 

Please note that persons beneficially holding ADSs through a bank, broker or other nominee that wish to provide voting instructions with respect to the securities represented by such ADSs must follow the voting instruction requirements of, and adhere to the deadlines set by, such bank, broker or other nominee. Such requirements and deadlines will differ from those set forth herein for registered holders of ADSs.

 

Holders and persons and/or entities having a beneficial interest in any ADS (“Beneficial Owners”) are advised that (a) the Depositary has not reviewed the Company’s website or any of the items thereon, and is not liable for the contents thereof, (b) neither the Depositary nor any of its affiliates controls, is responsible for, endorses, adopts, or guarantees the accuracy or completeness of any information contained in any document prepared by the Company or on the Company’s website and neither the Depositary nor any of its affiliates are or shall be liable or responsible for any information contained therein or thereon, (c) there can be no assurance that Holders or Beneficial Owners generally or any Holder or Beneficial Owner in particular will receive this notice with sufficient time to enable the Holder to return voting instructions to the Depositary in a timely manner, and (d) the Depositary and its agents shall not be liable for any failure to carry out any instructions to vote any of the Deposited Securities, or for the manner in which any vote is cast or the effect of any vote.

 

For further information, please contact:

 

Depositary Receipts

Phone: (866) 249 2593

adr@equiniti.com

 

 

 

Exhibit 99.4

0 EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF LION GROUP HOLDING LTD. (Continued and to be signed on the reverse side) ADD YOUR EMAIL ADDRESS ONLINE Add your email address to your online account at EQ for 24/7 access to your account and enroll in eConsent to receive future materials electronically. Update your account today: For first time users setting up an account, follow the instructions outlined below: 14475 1.1 Alternatively you can provide us with your email address in the below section entitled “ELECTRONIC SHAREHOLDER COMMUNICATIONS” to receive future materials electronically when available. Electronic Shareholder Communications Please join the growing number of shareholders who receive emails instead of hard copy shareholder communications . Register online at https : //equiniti . com/us/ast - access or supply your email address below . • • • • • Go to https://equiniti.com/us/ast - access and click on the words “REGISTER – FIRST TIME USERS CLICK HERE” under the Shareholder Central heading button Follow the instructions provided to set up your account which will include providing your e - mail address Once your account has been set up, select the tool bar “Communications” at the top right side of the page Here you need to select “Receive Company Mailings via E - Mail” Next, click on the “Submit” button and any future proxy materials will be sent to you electronically should they be available For existing users updating your account, do the following: Go to https://equiniti.com/us/ast - access and click on “LOGIN” button under the Shareholder Central heading • • • • Once you access your account, select the tool bar “Communications” at the top right side of the page Here you need to select “Receive Company Mailings via E - Mail” Next, click on the “Submit” button and any future proxy materials will be sent to you electronically should they be available

EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF LION GROUP HOLDING LTD. March 7, 2025 Please sign, date and mail your proxy card in the envelope provided so that your vote is received on or before 10:00 AM EST on March 4, 2025. Please detach along perforated line and mail in the envelope provided. 1 . RESOLVED as a special resolution : each 1 , 000 shares of the Company with a par value of US $ 0 . 0000001 shall be consolidated into one share of a par value of US $ 0 . 0001 with the result of an authorised capital of US $ 5 , 000 , 000 divided into 50 , 000 , 000 , 000 shares with a nominal value of US $ 0 . 0001 each, comprising (a) 40 , 000 , 000 , 000 Class A Ordinary Shares of a par value of US $ 0 . 0001 each ; (b) 7 , 500 , 000 , 000 Class B Ordinary Shares of a par value of US $ 0 . 0001 each ; and (c) 2 , 500 , 000 , 000 preferred Shares of a par value of US $ 0 . 0001 each . 2 . A . RESOLVED as an ordinary resolution that : the Company’s authorised capital shall increase by US $ 15 , 000 , 000 , to be divided into 150 , 000 , 000 , 000 Class A Ordinary Shares of a par value of US $ 0 . 0001 each, with the result of an authorised capital of US $ 20 , 000 , 000 , shares with a nominal value of US $ 0 . 0001 each, comprising (a) 190 , 000 , 000 , 000 Class A Ordinary Shares of a par value of US $ 0 . 0001 each ; (b) 7 , 500 , 000 , 000 Class B Ordinary Shares of a par value of US $ 0 . 0001 each ; and (c) 2 , 500 , 000 , 000 preferred Shares of a par value of US $ 0 . 0001 each . Resolutions presented for consideration by the Extraordinary General Meeting of Shareholders on March 7, 2025 PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE x 030725 THE BOARD OF DIRECTORS OF THE COMPANY RECOMMENDS THAT YOU VOTE “FOR” THE RESOLUTIONS 2 . B . RESOLVED as a special resolution, to approve that Section 6 of the fifth amend - ed and restated memorandum of association of the Company being replaced with the following : “ 6 . The capital of the Company is US $ 20 , 000 , 000 divided into 200 , 000 , 000 , 000 shares with a nominal or par value of US $ 0 . 0001 each, comprising (a) 190 , 000 , 000 , 000 Class A Ordinary Shares of a par value of US $ 0 . 0001 each ; (b) 7 , 500 , 000 , 000 Class B Ordinary Shares of a par value of US $ 0 . 0001 each ; and (c) 2 , 500 , 000 , 000 preferred Shares of a par value of US $ 0 . 0001 each . Subject to the Companies Act and the Articles of Association the Company shall have power to redeem or purchase any of its shares and to sub - divide or consolidate the said shares or any of them and to issue all or any part of its capital whether original, redeemed, increased or reduced with or without any preference, priority, special privilege or other rights or subject to any postponement of rights or to any conditions or restrictions whatsoever and so that unless the conditions of issue shall otherwise expressly provide every issue of shares whether stated to be ordinary, preference or otherwise shall be subject to the powers on the part of the Company hereinbefore provided . Shares and other securities of the Company may be issued by the Directors with such preferred, deferred or other special rights, restrictions or privi - leges whether in regard to voting, distributions, a return of capital, or otherwise and in such classes and series, if any, as the Directors may determine . ” 3 . RESOLVED as an ordinary resolution, to approve to direct the chairman of the Extraordinary General meeting to adjourn the Extraordinary General meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the meeting, there are not sufficient votes to approve the proposals 1 , 2 . A, and 2 . B . FOR AGAINST ABSTAIN FOR AGAINST ABSTAIN Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person.

To change the address on your account or to add the email, please check the box at right. Please indicate your new address in the address space above. Please note that changes to the registered name(s) on the account may not be submitted via this method. EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF LION GROUP HOLDING LTD. March 7, 2025 INTERNET - Access “ www . voteproxy . com ” and follow the on - screen instructions or scan the QR code with your smartphone . Have your proxy card available when you access the web page . TELEPHONE - Call toll - free 1 - 800 - PROXIES ( 1 - 800 - 776 - 9437 ) in the United States or 1 - 201 - 299 - 4446 from foreign countries from any touch - tone telephone and follow the instructions . Have your proxy card available when you call . Vote online/phone until 10 : 00 a . m . EST on March 4 , 2025 . MAIL - Sign, date and mail your proxy card in the envelope provided so that your vote is received before 10 : 00 a . m . EST on March 4 , 2025 . ADD YOUR EMAIL ADDRESS ONLINE - Add your email address to your online account at EQ for 24 / 7 access to your account and enroll in eConsent to receive future materials electronically . Update your account today at : https : //equiniti . com/us/ast - access (see reverse side for instructions) or provide us with your email address in the section entitled “ELECTRONIC SHAREHOLDER COMMUNICATIONS” on the reverse side to receive future materials electronically when available . PROXY VOTING INSTRUCTIONS Please detach along perforated line and mail in the envelope provided IF you are not voting via telephone or the Internet. 030725 THE BOARD OF DIRECTORS OF THE COMPANY RECOMMENDS THAT YOU VOTE “FOR” THE RESOLUTIONS Resolutions presented for consideration by the Extraordinary General Meeting of Shareholders on March 7, 2025 PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE x COMPANY NUMBER ACCOUNT NUMBER 1 . RESOLVED as a special resolution : each 1 , 000 shares of the Company with a par value of US $ 0 . 0000001 shall be consolidated into one share of a par value of US $ 0 . 0001 with the result of an authorised capital of US $ 5 , 000 , 000 divided into 50 , 000 , 000 , 000 shares with a nominal value of US $ 0 . 0001 each, comprising (a) 40 , 000 , 000 , 000 Class A Ordinary Shares of a par value of US $ 0 . 0001 each ; (b) 7 , 500 , 000 , 000 Class B Ordinary Shares of a par value of US $ 0 . 0001 each ; and (c) 2 , 500 , 000 , 000 preferred Shares of a par value of US $ 0 . 0001 each . 2 . A . RESOLVED as an ordinary resolution that : the Company’s authorised capital shall increase by US $ 15 , 000 , 000 , to be divided into 150 , 000 , 000 , 000 Class A Ordinary Shares of a par value of US $ 0 . 0001 each, with the result of an authorised capital of US $ 20 , 000 , 000 , shares with a nominal value of US $ 0 . 0001 each, comprising (a) 190 , 000 , 000 , 000 Class A Ordinary Shares of a par value of US $ 0 . 0001 each ; (b) 7 , 500 , 000 , 000 Class B Ordinary Shares of a par value of US $ 0 . 0001 each ; and (c) 2 , 500 , 000 , 000 preferred Shares of a par value of US $ 0 . 0001 each . 2. B. RESOLVED as a special resolution, to approve that Section 6 of the fifth amend - ed and restated memorandum of association of the Company being replaced with the following : “ 6 . The capital of the Company is US $ 20 , 000 , 000 divided into 200 , 000 , 000 , 000 shares with a nominal or par value of US $ 0 . 0001 each, comprising (a) 190 , 000 , 000 , 000 Class A Ordinary Shares of a par value of US $ 0 . 0001 each ; (b) 7 , 500 , 000 , 000 Class B Ordinary Shares of a par value of US $ 0 . 0001 each ; and (c) 2 , 500 , 000 , 000 preferred Shares of a par value of US $ 0 . 0001 each . Subject to the Companies Act and the Articles of Association the Company shall have power to redeem or purchase any of its shares and to sub - divide or consolidate the said shares or any of them and to issue all or any part of its capital whether original, redeemed, increased or reduced with or without any preference, priority, special privilege or other rights or subject to any postponement of rights or to any conditions or restrictions whatsoever and so that unless the conditions of issue shall otherwise expressly provide every issue of shares whether stated to be ordinary, preference or otherwise shall be subject to the powers on the part of the Company hereinbefore provided . Shares and other securities of the Company may be issued by the Directors with such preferred, deferred or other special rights, restrictions or privi - leges whether in regard to voting, distributions, a return of capital, or otherwise and in such classes and series, if any, as the Directors may determine . ” 3 . RESOLVED as an ordinary resolution, to approve to direct the chairman of the Extraordinary General meeting to adjourn the Extraordinary General meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the meeting, there are not sufficient votes to approve the proposals 1 , 2 . A, and 2 . B . FOR AGAINST ABSTAIN FOR AGAINST ABSTAIN Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person.

---