This press release has been corrected to include further details regarding the reverse stock split of ETAO International Co., Ltd. We hereby issue a formal amendment to supersede our previously released press release dated March 19, 2024. This amended communication is intended to replace the original statement in its entirety and provides updated, accurate information. We advise all stakeholders to refer to this latest version for the most current details regarding the matter previously addressed. NEW YORK, March 21, 2024 /PRNewswire/ -- ETAO International Co., Ltd. (the "Company," "we" or "ETAO") (NASDAQ:ETAO), today announced that a 1 for 20 reverse split of its ordinary shares, an increase of authorized shares and the alteration to the share capital of the Company were approved by the Company's shareholders on February 16, 2024 and is expected to become effective on or around March 26, 2024.  ETAO International Co., Ltd. Announces 1 for 20 Reverse Share Split Upon the effectiveness of the reverse share split, ETAO shareholders will receive one new ordinary share of ETAO for every twenty shares they hold. ETAO's ordinary shares are expected to begin trading on a split-adjusted basis when the market opens on March 26, 2024. The reverse share split is expected to lead ETAO's ordinary shares to trade at approximately twenty times the price per share at which it trades prior to the effectiveness of the reverse share split. ETAO, however, cannot assure that the price of its Class A ordinary shares after the reverse split will reflect the 1-for-20 reverse split ratio, that the price per share following the effective time of the reverse split will be maintained for any period of time, or that the price will remain above the pre-split trading price. Following the 1-for-20 reverse split, the increase of authorized shares, and the alteration of the share capital, the Company's authorized issued share ...