Earlyworks Co., Ltd. Sponsored ADR (ELWS) has released an update.
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Earlyworks Co., Ltd., known for its proprietary Grid Ledger System blockchain, has announced a one-for-five reverse ADS split, effective May 16, 2024, aimed at boosting liquidity and complying with Nasdaq’s minimum bid price requirement. The company is also appealing a Nasdaq delisting notice, with a hearing scheduled for June 18, 2024. This strategic move is expected to proportionally increase the ADS trading price, with no guarantee of liquidity improvement or price stabilization.
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