NEW
YORK, June 6, 2023 /PRNewswire/ -- SOS
Limited ("SOS" or the "Company") (NYSE: SOS) today announced that
it plans to change the ratio of its American depositary shares
("ADSs") from one (1) ADS representing five hundred (500) Class A
ordinary shares to one (1) ADS representing ten (10) Class A
ordinary shares (the "ADS Ratio Change").
The ADS Ratio Change is expected to take place at the open of
trading on June 16, 2023 (U.S.
Eastern Time) (the "Effective Date") and is being effected
simultaneously with the one-for-fifty share consolidation of the
Company's Class A ordinary shares, par value US$0.005 each (the "Share Consolidation"), which
was approved at the Company's annual general meeting of
shareholders held on May 1, 2023. The
planned simultaneous Share Consolidation and ADS Ratio Change will
not affect the number of the Company's ADSs outstanding or the ADS
trading price on the New York Stock Exchange (the "NYSE"). ADS
holders of record on the Effective Date will not need to surrender
their ADSs to the depositary bank for cancellation or exchange in
connection with the ADS Ratio Change. After the ADS Ratio Change,
SOS's ADSs will continue to be traded on the NYSE under the symbol
"SOS".
About SOS Limited
SOS is an emerging blockchain-based and big data-driven
marketing solution provider, with a nationwide membership base of
approximately 20 million in China.
SOS is also engaged in blockchain and cryptocurrency
operations, which currently include cryptocurrency
mining and maybe expand into cryptocurrency security
and insurance in the future. Since April
2021, we launched commodity trading via our subsidiary SOS
International Trading Co. Ltd. The core infrastructure of SOS's
marketing data, technology and solutions to insurance and emergency
rescue services is built on big data, blockchain-based technology,
cloud computing, AI, satellite, and 5G network, etc. SOS has
created a cloud "software as a service (SaaS)" platform for
emergency rescue services, with three major product categories:
basic cloud, cooperative cloud, and information cloud. This system
provides innovative marketing solutions to clients such as
insurance companies, financial institutions, medical institutions,
healthcare providers, auto manufacturers, security providers,
senior living assistance providers, and other service providers in
the emergency rescue services industry. For more information,
please visit: http://www.sosyun.com/.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws, including, but not limited to, our expectations
for future financial performance, business strategies or
expectations for our business. These statements constitute
projections, forecasts and forward-looking statements, and are not
guarantees of performance. SOS cautions that forward-looking
statements are subject to numerous assumptions, risks and
uncertainties, which change over time. Words such as "may," "can,"
"should," "will," "estimate," "plan," "project," "forecast,"
"intend," "expect," "anticipate," "believe," "seek," "target,"
"look" or similar expressions may identify forward-looking
statements. These forward-looking statements are based on
information available as of the date of this press release and our
management's current expectations, forecasts and assumptions, and
involve a number of judgments, risks and uncertainties that may
cause actual results or performance to be materially different from
those expressed or implied by these forward-looking statements.
These risks and uncertainties include, but not are limited to, the
risk factors described by SOS in its filings with the Securities
and Exchange Commission ("SEC"). Accordingly, forward-looking
statements should not be relied upon as representing our views as
of any subsequent date, and you should not place undue reliance on
these forward-looking statements in deciding whether to invest in
our securities. We do not undertake any obligation to update
forward-looking statements to reflect events or circumstances after
the date they were made, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
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SOURCE SOS Ltd.