Listed Digital Fintech Company Mercurity Fintech Approved for Share Consolidation and More

The board of directors of Mercurity Fintech Holding, a listed digital financial technology company, has approved the following: share consolidation with simultaneous adjustment of the ADR ratio, transfer of the company's shareholder register, and termination of the deposit agreement. Among other things, the board of directors approved a proposal to consolidate the shares at a ratio of 400:1, resulting in an authorized share capital of $250,000 divided into 62.5 million common shares with a par value of $0.004 each. In addition, subject to board approval, the company will simultaneously change the ratio of American Depositary Receipts (ADRs) to common shares from 1:360 to 1:1. Foresight News previously reported that Mercurity Fintech Holding completed $5 million in private equity financing in December last year. The investor was not disclosed. The funds raised were used to develop cryptocurrency consulting services in the United States, including obtaining an operating license from the New York Department of Financial Services to engage in digital currency. related events.