Scage Future Sets One-for-Fifteen Reverse ADS Split
Scage Future will change its ADS ratio on October 27, 2026, so that one ADS represents 15 ordinary shares instead of one. Holders will receive one new ADS for every 15 existing ADSs, and fractional entitlements will be sold with net proceeds passed to affected holders. The underlying ordinary shares are unchanged, and the ADSs will keep trading under SCAG with a new CUSIP.
Scage Future, a Nanjing-based supplier of alternative-energy heavy trucks and e-fuel technology, trades on Nasdaq under SCAG. Its depositary-share ratio adjustment takes effect Oct. 27, 2026, changing each ADS from one ordinary share to 15. Existing holders will receive one replacement ADS for every 15 they hold, with no action required.
The ordinary-share count stays the same, and no shares will be issued or cancelled. The ADSs remain on the Nasdaq Global Market under SCAG, though the CUSIP becomes 80590A204. The plan avoids creating partial new ADSs; instead, the depositary will combine and sell those residual entitlements, then forward net proceeds after expenses to the holders involved.
The ratio change may mainly affect current ADS holders, brokers and custodians, who must handle the new CUSIP and any cash from sold fractional entitlements. Because the ADS price could rise roughly in proportion to the ratio, some smaller investors may find each unit less accessible, while others may see the adjustment as cosmetic. Operational attention to record-keeping and settlement could matter more than the split itself; broader societal effects are likely limited unless the company’s vehicle and e-fuel business grows substantially.