SHANGHAI, Aug. 11,
2023 /PRNewswire/ -- Boqii Holding Limited
("Boqii" or the "Company") (NYSE: 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 four and
one-half (4.5) Class A ordinary shares to one ADS representing
fifteen (15) Class A ordinary shares (the "ADS Ratio Change"). The
ADS Ratio Change is expected to become effective on or about
August 21, 2023 (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 3-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 3 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 New York Stock Exchange 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-thirds (10/3) 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, Mocare
and D-cat, 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.
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 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
View original
content:https://www.prnewswire.com/news-releases/boqii-announces-ads-ratio-change-301898782.html
SOURCE Boqii Holding Limited