Purple Biotech (PPBT) has released an update.
Purple Biotech Ltd. has announced a change in the ratio of its American Depositary Shares (ADSs) to regain compliance with Nasdaq’s minimum bid price requirement. Effective September 17, 2024, the new ratio will equate one ADS to two hundred ordinary shares, essentially a one-for-twenty reverse ADS split. This adjustment is expected to proportionally increase the trading price of the Company’s ADSs on Nasdaq, with no effect on its ordinary shares traded on The Tel Aviv Stock Exchange.
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