Biodexa Pharmaceuticals (BDRX) has released an update.
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Biodexa Pharmaceuticals PLC has announced a significant adjustment to its American Depositary Receipts (ADRs) ratio, implementing a one-for-twenty-five reverse ADR split to meet Nasdaq’s $1.00 minimum bid price requirement. The change, effective October 4, 2024, will necessitate ADR holders to exchange every twenty-five of their current ADRs for one new ADR, without receiving fractional ADRs. This strategic move is intended to comply with trading regulations but offers no guarantee of meeting the desired share price threshold.
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