FRLN - Freeline Therapeutics announces proposed ADS ratio change

2023-04-21 07:20:12 ET

• Freeline Therapeutics ( NASDAQ: FRLN ) plans to implement a change in the ratio of its American Depositary Shares to its ordinary shares, effective on or about May 12, 2023.
• The ratio will be changed from one (1) ADS to one (1) ordinary share currently to a new ratio of one (1) ADS to fifteen (15) ordinary shares. The change will have the same effect as a one-for-fifteen reverse ADS split.
• The ADS change is intended to enable the company to regain compliance with the Nasdaq minimum bid price requirement.
• As a result, FRLN's ADS trading price is expected to increase proportionally.
• FRLN shares are down around 1.25% in Friday's premarket hours.

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