RDHL - RedHill Biopharma announces plan to implement ADS ratio change
2023-03-17 02:19:01 ET
- RedHill Biopharma ( NASDAQ: RDHL ) plans to change the ADS ratio to its non-traded ordinary shares, from one ADS representing ten ordinary shares to one ADS representing four hundred ordinary shares.
- For the company’s existing ADS holders, the change in the ADS ratio will have the same effect as a one-for-forty reverse ADS split.
- The ratio change is effective Mar.23, 2023 after market opens.
- The company's ADSs will continue to be traded on the Nasdaq Global Market under the symbol "RDHL" with a new CUSIP Number 757468202.
- As a result of the ADS ratio change, the company anticipates the price of its ADS will increase proportionally and meet the Nasdaq minimum bid price requirement , however there can be no assurance that such an increase will occur.
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RedHill Biopharma announces plan to implement ADS ratio change