on DBV TECHNOLOGIES (EPA:DBV)
DBV Technologies Announces Plan to Implement ADS Ratio Change
DBV Technologies, a clinical-stage biopharmaceutical company, announced plans to change the ratio of its American Depositary Shares (ADS) to its ordinary shares. The new ratio will be one ADS to one ordinary share, effective around June 7th, 2024.
This change, akin to a one-for-two reverse ADS split, is intended to help DBV Technologies meet Nasdaq's minimum bid price requirement. ADS holders with certificated shares must surrender them for new ADSs, while uncertificated shares will be automatically exchanged.
No fractional new ADSs will be issued. Fractional entitlements will be sold, and proceeds distributed to ADS holders. This change does not affect the underlying ordinary shares of the company.
DBV Technologies expects the ADS trading price to increase proportionally, though no guarantee is provided. ADSs will continue to trade under the symbol "DBVT".
R. P.
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