Mar. 17 at 8:37 PM
$AKTX Akari Therapeutics announces ADS ratio change
Akari Therapeutics announced that the company will change the ratio of its American depositary shares to ordinary shares from one ADS representing 2,000 ordinary shares to a new ratio of one ADS representing eighty thousand 80,000 ordinary shares. The ratio change is expected to be effective on March 31. The ratio change is intended to enable Akari to maintain compliance with the Nasdaq minimum bid price requirement for continued listing.
On the effective date, each ADS holder will be required to exchange every forty ADSs for one new ADS. Deutsche Bank, the depositary bank, will arrange for the exchange of the current ADSs for the new ADSs. There is no change to Akari's underlying ordinary shares, and Akari's ADSs will continue to trade on the Nasdaq Capital Market under the symbol (AKTX).
