Corporate ActionJun 16, 2026, 05:11 PM
Trident Terminates Deposit Agreement, Plans Share Consolidation & Direct Listing
AI Summary
Trident Digital Tech Holdings Ltd announced its plan to terminate the Deposit Agreement for its American depositary shares (ADSs), effective July 16, 2026. In connection with this, the company will hold an extraordinary general meeting on July 8, 2026, for shareholders to vote on a redesignation and increase of its authorized share capital, as well as a 240-for-1 share consolidation. Following the termination and consolidation, ADSs will be automatically cancelled and exchanged for underlying Class B ordinary shares, which are expected to trade directly on the Nasdaq Capital Market under the symbol "TDTH".
Key Highlights
- Trident to terminate its amended and restated Deposit Agreement, effective July 16, 2026.
- Shareholders to vote on July 8, 2026, on share capital redesignation and increase.
- A 240-for-1 share consolidation of ordinary shares will take effect after the mandatory exchange.
- Holders of ADSs will have their ADSs automatically cancelled on July 16, 2026.
- Mandatory exchange will convert ADSs to Class B ordinary shares at a 1-for-1 rate post-consolidation.
- Class B ordinary shares are anticipated to trade directly on Nasdaq Capital Market under "TDTH".
Price Impact
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