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Biophytis Announces Ratio Change Under its American Depositary Receipt (“ADR”) Program

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Biophytis announces a ratio change under its American Depositary Receipt ('ADR') program, transitioning from one ADS representing 100 shares to one ADS representing 4,000 shares. The effective date is April 23, 2024. Existing ADR holders will need to exchange their ADRs for new ones in a one-for-forty ratio, while ADS beneficial holders through intermediaries are not required to take any action. The ADSs will continue to trade on The Nasdaq Capital Market under the symbol 'BPTS'. The Ratio Change is not accompanied by the issuance of new shares, and the Company cautions that the trading price may not necessarily align with the pre-change price multiplied by the new ratio.
Biophytis annuncia un cambio di rapporto nel suo programma di American Depositary Receipt ('ADR'), passando da un ADS che rappresentava 100 azioni a un ADS che rappresenta 4.000 azioni. La data effettiva è il 23 aprile 2024. I detentori attuali di ADR dovranno scambiare i loro ADR con nuovi in un rapporto di uno a quaranta, mentre i detentori beneficiari di ADS tramite intermediari non sono tenuti a compiere alcuna azione. Gli ADS continueranno a essere negoziati nel Nasdaq Capital Market sotto il simbolo 'BPTS'. Il cambio di rapporto non è accompagnato dall'emissione di nuove azioni, e la società avverte che il prezzo di negoziazione potrebbe non necessariamente allinearsi col prezzo precedente moltiplicato per il nuovo rapporto.
Biophytis anuncia un cambio en la relación de su programa de American Depositary Receipt ('ADR'), pasando de un ADS que representaba 100 acciones a un ADS que representa 4,000 acciones. La fecha efectiva es el 23 de abril de 2024. Los actuales poseedores de ADR necesitarán intercambiar sus ADR por otros nuevos en una relación de uno por cuarenta, mientras que los poseedores beneficiosos de ADS a través de intermediarios no necesitan tomar ninguna acción. Los ADS seguirán cotizando en el Nasdaq Capital Market bajo el símbolo 'BPTS'. El cambio de relación no viene acompañado por la emisión de nuevas acciones, y la compañía advierte que el precio de negociación puede no necesariamente alinearse con el precio anterior multiplicado por la nueva relación.
Biophytis는 미국 예탁증서('ADR') 프로그램의 비율 변경을 발표했습니다, 100주를 대표하는 하나의 ADS에서 4,000주를 대표하는 하나의 ADS로 전환됩니다. 효력 발생 날짜는 2024년 4월 23일입니다. 기존 ADR 소유자들은 새로운 ADR로 40대 1 비율로 교환해야 하며, 중개인을 통한 ADS 수익권 소유자들은 아무 조치도 취할 필요가 없습니다. ADS는 'BPTS' 기호로 나스닥 캐피탈 마켓에서 계속 거래됩니다. 비율 변경은 신주 발행을 동반하지 않으며, 회사는 신규 비율로 곱해진 변경 전 가격과 거래 가격이 반드시 일치하지 않을 수 있음을 경고합니다.
Biophytis annonce un changement de ratio dans son programme de reçu de dépôt américain ('ADR'), passant d'un ADS représentant 100 actions à un ADS représentant 4 000 actions. La date effective est le 23 avril 2024. Les détenteurs actuels de ADR devront échanger leurs ADR pour de nouveaux dans un rapport de un pour quarante, tandis que les détenteurs bénéficiaires d'ADS par l'intermédiaire de médiateurs ne sont pas tenus de prendre de mesures. Les ADS continueront d'être négociés sur le marché du Nasdaq Capital sous le symbole 'BPTS'. Le changement de ratio n'est pas accompagné de l'émission de nouvelles actions, et la société prévient que le prix de négociation peut ne pas nécessairement s'aligner avec le prix avant changement multiplié par le nouveau ratio.
Biophytis kündigt eine Änderung des Verhältnisses in seinem Amerikanischen Einlagenbescheinigungsprogramm ('ADR') an, wobei ein ADS, das 100 Aktien repräsentierte, nun 4.000 Aktien repräsentieren wird. Das wirksam Datum ist der 23. April 2024. Bestehende ADR-Inhaber müssen ihre ADRs im Verhältnis von eins zu vierzig gegen neue umtauschen, während Halter von vorteilhaften ADS über Vermittler keine Maßnahmen ergreifen müssen. Die ADS werden weiterhin unter dem Symbol 'BPTS' am Nasdaq Capital Market gehandelt. Die Änderung des Verhältnisses wird nicht von der Ausgabe neuer Aktien begleitet, und das Unternehmen warnt davor, dass der Handelspreis nicht notwendigerweise mit dem vor der Änderung multipliziertem Preis durch das neue Verhältnis übereinstimmt.
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PARIS, FRANCE AND CAMBRIDGE, MA / ACCESSWIRE / April 19, 2024 / Biophytis SA (Nasdaq CM:BPTS)(Euronext Growth Paris:ALBPS), ("Biophytis" or the "Company"), a clinical-stage biotechnology company specialized in thedevelopment oftherapeutics for age-related diseases, today annouces that it will change the ratio of its American Depositary Shares (the "ADSs") to Biophytis ordinary shares (the "Shares") from one ADS representing 100 Shares, to one ADS representing 4,000 Shares (the "Ratio Change"). The effective date of the Ratio Change (the "Effective Date") is expected to be April 23, 2024.

Pursuant to the Ratio Change, as of the Effective Date, record holders who directly hold ADRs will be required to exchange their existing ADRs for new ADRs on the basis of one new ADR for every 40 existing ADRs surrendered. The Depositary will contact ADR holders and arrange for the exchange of their existing ADRs for new ADRs. ADS beneficial holders who hold through an ADR holder intermediary need not take any action in connection with the Ratio Change. For ADS holders, the Ratio Change will have the same effect as a one-for-forty reverse ADS split. The ADSs will continue to be traded on The Nasdaq Capital Market under the symbol "BPTS".

No new Shares will be issued in connection with the Ratio Change and this Ratio Change does not change the total number of Biophytis ordinary shares.

As a result of the Ratio Change, the trading price of the Company's ADSs is expected to automatically increase proportionally, but the Company can give no assurance that the ADS trading price following the Ratio Change will be at least equal to the ADS trading price before the Ratio Change multiplied by the new 40:1 ratio.

About BIOPHYTIS

Biophytis SA is a clinical-stage biotechnology company specializing in the development of drug candidates for age-related diseases. BIO101 (20-hydroxyecdysone), our lead drug candidate, is a small molecule in development for muscular (sarcopenia, phase 3 ready and Duchenne muscular dystrophy), respiratory (Covid-19 phase 2-3 completed) and metabolic diseases (obesity, phase 2 to be started). The company is based in Paris, France, and Cambridge, Massachusetts. The Company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN: FR0012816825) and the ADSs (American Depositary Shares) are listed on Nasdaq Capital Market (Ticker BPTS - ISIN: US09076G1040). For more information, visit www.biophytis.com

Disclaimer

This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook,""believes,""expects,""potential,""continues,""may,""will,""should,""could,""seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of thesewords or other comparable words. Such forward-looking statements are based on assumptions that Biophytis considers to be reasonable.However, there can be no assurance that the statements contained in such forward-looking statements will be verified, which are subject to various risks and uncertainties. The forward- looking statements contained in this press release are also subject to risks not yet known to Biophytis or not currently considered material by Biophytis. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Please also refer to the "Risk and uncertainties the Company is to face» section from the Company's 2023 FinancialReport available on BIOPHYTIS website (www.biophytis.com) and as exposed in the "Risk Factors" section of form 20-F as well as other forms filed with the SEC (Securities and Exchange Commission, USA). We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information,future developments or otherwise, except as required by law.

Biophytis contacts

Investor relations

Nicolas Fellmann, CFO
Investors@biophytis.com

Media

Antoine Denry:antoine.denry@taddeo.fr - +33 6 18 07 83 27

SOURCE: Biophytis

Nizar Berrada: nizar.berrada@taddeo.fr - +33 6 38 31 90 50



View the original press release on accesswire.com

FAQ

What is the ratio change announced by Biophytis under its ADR program?

The ratio change announced by Biophytis under its ADR program transitions from one ADS representing 100 shares to one ADS representing 4,000 shares.

When is the effective date of the ratio change?

The effective date of the ratio change is expected to be April 23, 2024.

How will existing ADR holders be impacted by the ratio change?

Existing ADR holders will need to exchange their ADRs for new ones in a one-for-forty ratio.

Where will the ADSs continue to be traded post the ratio change?

The ADSs will continue to be traded on The Nasdaq Capital Market under the symbol 'BPTS'.

Will new shares be issued as a result of the ratio change?

No new shares will be issued in connection with the ratio change.

What caution does the Company provide regarding the trading price post the ratio change?

The Company cautions that the trading price following the ratio change may not necessarily align with the pre-change price multiplied by the new 40:1 ratio.

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Biophytis SA American Depositary Share (0.01 Euro)

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About BPTS

biophytis is a biotech company developping therapeutics for aging diseases. it that has been created in 2006 as a spin-off of université pierre et marie curie (paris). biophytis has developped a portfolio of drug candidates at clinical stage for the treatment of sarcopenic obesity (bio101, bio103) and dry age-related macular degeneration (bio201).