Canaan plans 1-for-25 ADS reverse split effective around Dec. 4
CAN•Canaan plans a 1-for-25 reverse split of its American depositary shares, effective around Dec. 4, 2026. Each ADS will represent 375 Class A ordinary shares, up from 15, to help regain compliance with Nasdaq’s minimum bid price requirement.
1. Reverse split terms
Canaan plans a 1-for-25 reverse split of its American depositary shares, effective around Dec. 4, 2026, U.S. Eastern Time. Each ADS will represent 375 Class A ordinary shares, up from 15, while the underlying ordinary shares will remain unchanged, with none issued or canceled.
2. Fractional ADSs
Fractional ADS entitlements will be sold, with net cash proceeds distributed to affected holders. Canaan said the reverse split is intended to help it regain compliance with Nasdaq’s minimum bid price requirement.
