Trident Digital Tech to Cancel ADSs and Direct List Shares After 240-for-1 Consolidation
TDTH•Trident Digital Tech Holdings will terminate its Depositary Agreement on July 16, 2026, triggering automatic cancellation of ADSs and a mandatory 1-for-1 exchange into Class B shares. Prior to that, shareholders will vote at a July 8 EGM on a 240-for-1 share consolidation and increase in authorized share capital.
1. Deposit Agreement Termination and ADS Exchange
On July 16, 2026, Trident will terminate its amended Depositary Agreement, resulting in the automatic cancellation of all outstanding ADSs. Each ADS will be mandatorily exchanged for one Class B ordinary share with a par value of US$0.0024.
2. Share Capital Redesignation and Consolidation
At the extraordinary general meeting on July 8, shareholders will vote on redesignating share capital, increasing authorized shares and implementing a 240-for-1 consolidation. Under the consolidation, every 240 existing ordinary shares of US$0.00001 par will combine into one share of US$0.0024 par.
3. Direct Listing on Nasdaq Capital Market
Following the mandatory exchange and consolidation, Class B ordinary shares are expected to trade directly on the Nasdaq Capital Market under “TDTH”. This transition eliminates the ADR layer and may affect float, liquidity and trading dynamics.
