Yimutian Inc. (YMT) Form 424B3 — Oct 27, 2026
Yimutian (Nasdaq: YMT) will change its ADS ratio from 1 ADS representing 6,000 Class A ordinary shares to 1 ADS representing 60,000, effective on or around November 16, 2026. For ADS holders this functions as a 10-for-1 reverse split, with JPMorgan as depositary exchanging every 10 existing ADSs for one new ADS. This is Yimutian's third ADS ratio adjustment in roughly six months, following changes in May 2026 (25:375) and August 2026 (375:6,000). Repeated ratio increases are a classic indicator of sustained share-price collapse and Nasdaq listing-compliance pressure.
Key figures
- Gross Proceeds
- up to US$10,000,000 principal of senior convertible promissory notes
- Offering Price
- US$0.26 per ADS (conversion floor price of Initial Note)
- Shares Offered
- 42,307,692 ADSs (representing 1,057,692,300 Class A ordinary shares)
- New ads ratio
- 1 ADS = 60,000 Class A ordinary shares
- Reverse split ratio
- 1:10 (ADS ratio change, effective ~November 16, 2026)
- Prior ratio change 1
- May 18, 2026: 1 ADS = 25 to 1 ADS = 375 Class A shares
- Prior ratio change 2
- August 27, 2026: 1 ADS = 375 to 1 ADS = 6,000 Class A shares
- Closing price oct 26 2026
- US$0.49 per ADS
AI analysis
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