Akari Therapeutics, Plc Announces ADS Ratio Change From 1-Representing-100 To 1-Representing-2000; Ratio Change Is Expected To Be Effective On August 17, 2023
Portfolio Pulse from Happy Mohamed
Akari Therapeutics, Plc (NASDAQ:AKTX) has announced a change in the ratio of its American Depositary Shares (ADSs) to ordinary shares from 1:100 to 1:2000, effective from August 17, 2023. The change is aimed at regaining compliance with the Nasdaq minimum bid price requirement. Deutsche Bank will manage the exchange of current ADSs for new ones. No fractional new ADSs will be issued, instead, fractional entitlements will be sold and the proceeds distributed to the applicable ADS holders.
August 15, 2023 | 12:07 pm
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Akari Therapeutics' change in ADS to ordinary shares ratio could potentially impact the stock's price. The company aims to meet Nasdaq's minimum bid price requirement with this move.
The change in ADS to ordinary shares ratio is a significant move by Akari Therapeutics. While it is aimed at meeting Nasdaq's minimum bid price requirement, it could potentially impact the stock's price. However, the company has not given any assurances on the performance of the ADS price following the ratio change.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100