Evaxion Announces Completion of ADS Ratio Change
23 1월 2024 - 6:30AM
Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion” or the “Company”), a
clinical-stage TechBio company specializing in developing
AI-Immunology™ powered vaccines, today announced that the
Company’s previously disclosed change to its ratio of its American
Depositary Shares (“ADSs”) to its ordinary shares, DKK 1 nominal
value (the “ADS Ratio”), has been made effective. The ratio has
changed from one (1) ADS representing one (1) ordinary share to a
new ADS Ratio of one (1) ADS representing ten (10) ordinary shares
(the “ADS Ratio Change”). The ADS Ratio Change became effective on
January 22, 2024 (the “Effective Date”).
For the Company's ADS holders, the change in the
ADS Ratio has the same effect as a one-for-ten reverse ADS split
and is intended to further support the liquidity in the Company’s
ADSs and to enable the Company to regain compliance with the Nasdaq
minimum bid price requirement. The exchange of one (1) new ADS for
every ten (10) then-held (existing) ADSs occurred automatically on
the Effective Date, with the then-held ADSs being cancelled and new
ADSs being issued by The Bank of New York Mellon, the depositary
bank (the “Depositary”). Registered holders of the Company’s ADSs
held in certificated form were required on a mandatory basis to
surrender their certificated ADSs to the Depositary for
cancellation and received one (1) new ADS in exchange for every ten
(10) existing ADSs then-held. Holders of uncertificated ADSs in the
Direct Registration System (DRS) and The Depository Trust Company
(DTC) had their ADSs cancelled and automatically exchanged,
receiving one (1) new ADS for every ten (10) existing ADS
then-held. The Company’s ADSs continue to be traded on The Nasdaq
Capital Market under the ticker symbol “EVAX”.
The ADS Ratio Change affects all shareholders
uniformly and will not alter any shareholder’s percentage interest
in the Company’s equity, except to the extent that the ratio change
would have resulted in a shareholder owning fractional ADSs. No
fractional new ADSs were issued in connection with the change in
the ADS Ratio. Instead, fractional entitlements to new ADSs will be
aggregated and sold by the Depositary, and the net cash proceeds
from the sale of the fractional ADS entitlements (after deduction
of fees, taxes and expenses) will be distributed to the applicable
ADS holders by the Depositary.
As a result of the ADS Ratio Change, the ADS
trading price is expected to increase proportionally, although the
Company can give no assurance that the ADS trading price after the
ADS Ratio Change will be proportionally equal to or greater than
the previous ADS trading price prior to the change or that the
Ratio Change will have any effect on the liquidity in the Company’s
ADSs.
About EVAXIONEvaxion Biotech
A/S is a pioneering TechBio company based upon its AI platform,
AI-Immunology™. Evaxion’s proprietary and scalable AI prediction
models harness the power of artificial intelligence to decode the
human immune system and develop novel immunotherapies for cancer,
bacterial diseases and viral infections. Based upon AI-Immunology™,
Evaxion has developed a clinical-stage oncology pipeline of novel
personalized vaccines and a preclinical infectious disease pipeline
in bacterial and viral diseases with high unmet medical needs.
Evaxion is committed to transforming patients’ lives by providing
innovative and targeted treatment options. For more information
about Evaxion and its groundbreaking AI-Immunology™ platform and
vaccine pipeline, please visit our website.
Forward-Looking
StatementThis announcement contains forward-looking
statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The
words “target,” “believe,” “expect,” “hope,” “aim,” “intend,”
“may,” “might,” “anticipate,” “contemplate,” “continue,”
“estimate,” “plan,” “potential,” “predict,” “project,” “will,” “can
have,” “likely,” “should,” “would,” “could,” and other words and
terms of similar meaning identify forward-looking
statements. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
factors, including, but not limited to, risks related to: our
financial condition and need for additional capital; our
development work; cost and success of our product development
activities and preclinical and clinical trials; commercializing any
approved pharmaceutical product developed using our AI platform
technology, including the rate and degree of market acceptance of
our product candidates; our dependence on third parties including
for conduct of clinical testing and product manufacture; our
inability to enter into partnerships; government regulation;
protection of our intellectual property rights; employee matters
and managing growth; our ADSs and ordinary shares, the impact
of international economic, political, legal, compliance, social and
business factors, including inflation, and the effects on
our business from the worldwide ongoing COVID-19 pandemic and
the ongoing conflict in the region
surrounding Ukraine and Russia and the Middle
East; and other uncertainties affecting our business
operations and financial condition. For a further discussion
of these risks, please refer to the risk factors included in our
most recent Annual Report on Form 20-F and other
filings with the U.S. Securities and Exchange Commission
(SEC), which are available
at www.sec.gov. We do not assume any
obligation to update any forward-looking statements except as
required by law.
Contact Information
Evaxion Biotech A/S
Christian Kanstrup
Chief Executive Officer
cka@evaxion-biotech.com
Source: Evaxion Biotech
Evaxion Biotech AS (NASDAQ:EVAX)
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부터 4월(4) 2024 으로 5월(5) 2024
Evaxion Biotech AS (NASDAQ:EVAX)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024