Quoin Pharmaceuticals (QNRX) has released an update to notify the public and investors about the unregistered sales of equity securities.
The summary of this text is that the American Depositary Shares (ADSs) mentioned will be issued in accordance with an exemption from the Securities Act’s registration requirements, specifically under Section 4(a)(2) and/or Rule 506 of Regulation D. These ADSs are not registered under the Securities Act and cannot be sold or offered in the U.S. without a proper registration or an applicable exemption.
For further insights into QNRX stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
