SHANGHAI, Jan. 10,
2025 /PRNewswire/ -- Boqii Holding Limited ("Boqii"
or the "Company") (NYSE American: BQ) today announced that it
will change its ratio of its American Depositary Shares ("ADSs") to
Class A ordinary shares from one (1) ADS representing fifteen (15)
Class A ordinary shares to one ADS representing one hundred
and fifty (150) Class A ordinary shares (the "ADS Ratio
Change"). The ADS Ratio Change is expected to become effective on
or about January 21, 2025 (U.S.
Eastern Time) (the "ADS Ratio Change Effective Date").
For Boqii's ADS holders, the ADS Ratio Change will have the same
effect as a 1-for-10 reverse split on the existing ADSs. Each
ADS holder on the ADS Ratio Change Effective Date will be required
on mandatory basis to surrender to The Bank of New York Mellon, as
depositary, (the "Depositary") for Boqii's ADS program, every 10
old ADSs held in exchange for one
new ADSs. 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
Depositary.
No fractional new ADSs will be issued in connection with the ADS
Ratio Change. Instead, the Depositary 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 the Depositary. Boqii's ADSs will continue to be traded
on the NYSE American under the ticker symbol "BQ". 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 ten (10) times the ADS price before the change.
About Boqii Holding Limited
Boqii Holding Limited (NYSE American: BQ) is a leading
pet-focused platform in China.
It is the leading online
destination for pet products and supplies in China with a
broad selection of high-quality products including global leading
brands, local emerging brands, and its own private label, Yoken, Mocare and
D-cat, offered at competitive prices. Boqii's 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. Its Boqii Community provides an informative
and interactive content platform for users to share their knowledge
and love for pets.
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 ("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. 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 inquiries, please contact:
Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com
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SOURCE Boqii Holding Limited