Lion Group Holding Ltd. plans to change its American Depositary Shares (ADSs, U.S.-traded certificates representing foreign shares) ratio from 292,500 Class A ordinary shares per ADS to 5,850,000, effective on or about September 10, 2026. For ADS holders, the change will function as a one-for-twenty reverse ADS split, with certificated holdings requiring surrender while DRS and DTC positions will be exchanged automatically. Lion will keep the LGHL ticker on the Nasdaq Capital Market, charge no exchange fees, and sell any fractional entitlements for net cash. The transaction will not issue or cancel Class A ordinary shares. Lion expects the ADS trading price to rise proportionally but does not guarantee a price at least 20 times higher.