Cloopen announces ADS ratio change

Cloopen announced that it will change the ratio of its American depositary shares to Class A ordinary shares from one ADS representing two Class A ordinary shares to one ADS representing six Class A ordinary shares. For Cloopen’s ADS holders, this ratio change will have the same effect as a 1-for-3 reverse ADS split. There will be no change to Cloopen’s Class A ordinary shares. Furthermore, no physical action by ADS holders will be required to effect the ratio change, as the change will be effected on the books of the depositary. The effect of the ratio change on the ADS trading price on the New York Stock Exchange is expected to take place at the open of business on March 15. Any fractional ADSs will be sold and the net proceeds from the sale of fractional ADSs will be distributed to the holders entitled thereto.