Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 14

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 14
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)-for-two hundred (200) (the “ Range”), with the exact
ratio to be set at a whole number within the Range and the exact effective date to be determined by the board of directors of the Company
(the “ Board”) in its sole discretion of the Company’s issued and unissued series A and series B ordinary shares. On
February 10, 2025, the Board approved a one-for-two-hundred (1:200) reverse split of the Company’s issued and unissued Class A and
Class B ordinary shares (the “ Reverse Share Split”). As a
result, as of the date of this report, there are716,825 Class A Ordinary Shares and 45,000 Class B Ordinary Shares issued
and outstandingand the Company’s authorized share capital is US$1,000,000 and is divided into: (a)100,000,000series A ordinary shares of par value of US$0.008each, and (b)25,000,000series B ordinary shares of par value of US$0.008each. The Reverse
Share Split was to regain compliance with the Minimum Bid Price Requirement. Our Class A Ordinary Shares began trading on an adjusted
basis, reflecting the Reverse Share Split, on March 3, 2025, under the existing ticker symbol “ LICN.”

The numbers of shares disclosed
in this “ History and Development of the Company” section prior to this subsection “ The Reverse Share Split” were
not adjusted to reflect the Reverse Share Split. Unless otherwise indicated, all information elsewhere in this report reflects the Reverse
Share Split.

Nasdaq Deficiency Notices

On January 23, 2025, the Company
received a deficiency letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq”), indicating
non-compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) for continued listing on Nasdaq. The Company
was provided 180 calendar days, or until July 22, 2025, to regain compliance with this rule.

On February 12, 2025, the
Company announced that it received a letter from Nasdaq. This letter stated that, because the Company’s securities had a closing
bid price of $0.10 or less for ten consecutive trading days as of the letter date, unless the Company timely requested a hearing before
a Hearings Panel (the “ Panel”) to appeal Nasdaq’s delisting determination, trading of the Company’s