Addex Therapeutics announced that it plans to change the ratio of its American Depositary Shares, or ADSs, to its ordinary shares from the current ADS Ratio of one ADS to six ordinary shares to a new ADS Ratio of one ADS to 120 ordinary shares. The company anticipates that the ADS ratio change will be effective on or about October 23. For the company’s ADS holders, the change in the ADS Ratio will have the same effect as a one for 20 reverse ADS split and is intended to enable the company to regain compliance with the Nasdaq minimum bid price requirement.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ADXN:
