Core Viewpoint - Evaxion Biotech A/S has implemented a change in the ratio of its American Depositary Shares (ADSs) to ordinary shares, effective January 14, 2025, transitioning from a one-to-ten ratio to a one-to-fifty ratio, which is akin to a one-for-five reverse ADS split aimed at enhancing liquidity for ADS holders [1][2][5]. Group 1: ADS Ratio Change - The ADS Ratio Change has been made effective, changing from one ADS representing ten ordinary shares to one ADS representing fifty ordinary shares [2]. - This change is designed to support liquidity in the Company's ADSs and is equivalent to a one-for-five reverse ADS split [2][5]. - The exchange of existing ADSs for new ADSs occurred automatically on the effective date, with existing ADSs being cancelled and new ADSs issued [3][4]. Group 2: Impact on Shareholders - All shareholders are uniformly affected by the ADS Ratio Change, which will not alter their percentage interest in the Company's equity, except for fractional ADSs [4]. - Fractional entitlements to new ADSs will be aggregated and sold, with net cash proceeds distributed to ADS holders [4]. - The trading price of the ADS is expected to increase proportionally as a result of the ratio change, although no assurance can be given regarding the actual trading price post-change [5]. Group 3: Company Overview - Evaxion Biotech A/S is a clinical-stage TechBio company that utilizes its AI-Immunology™ platform to develop vaccines targeting cancer, bacterial diseases, and viral infections [6]. - The company is focused on creating innovative and targeted treatment options through its proprietary AI prediction models [6].
Evaxion announces completion of ADS ratio change