RedHill Biopharma (RDHL) has released an update.
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RedHill Biopharma Ltd. has announced a significant ratio change for its American Depositary Shares (ADSs), adjusting from one ADS representing 400 ordinary shares to one ADS for 10,000 shares, effective around August 20, 2024. This change is equivalent to a 1-for-25 reverse ADS split, which aims to increase the per-ADS price and comply with Nasdaq’s minimum bid price requirements; however, the outcome cannot be guaranteed. Shareholders need not take any action as the conversion will be managed by the depositary bank.
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