| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Addex Therapeutics (NASDAQ:ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, today announced that the Company's previously disclosed change to its American Depositary Shares ("ADSs") to ordinary share ratio has been accepted by Nasdaq and will be effective on October 23, 2023. The ratio will change from one (1) ADS to six (6) ordinary shares to a new ADS ratio of one (1) ADS to one hundred and twenty (120) ordinary shares (the "Ratio Change").
For the Company's ADS holders, the change in the ADS ratio has the same effect as a one (1) for twenty (20) reverse ADS split and is intended to enable the Company to regain compliance with the Nasdaq minimum bid price requirement. At the effective date of the Ratio Change, all ADSs then held will be cancelled and new ADSs will be issued, whereby for every twenty (20) ADSs cancelled, one new ADS will be issued. Holders of uncertificated ADSs will have their ADSs automatically exchanged.
Posted In: ADXN
