Mobilicom to Transition its ADSs to Ordinary Shares on Nasdaq in Line with Company’s U.S.-Based Global Growth Strategy

Rhea-AI Summary

Mobilicom (Nasdaq: MOB) will transition from American Depositary Shares (ADSs) to a direct listing of its ordinary shares on the Nasdaq Capital Market, effective at market open on December 8, 2025. The ADR program and related deposit agreement are expected to terminate after market close on December 5, 2025 in conjunction with a 1-for-275 reverse share split. Each holder of one ADS will receive one ordinary share, ADSs will be mandatorily cancelled, and ADS holders do not need to take action. The change aims to broaden U.S. index and ETF eligibility, reduce depositary fees, and simplify trading for investors.

Positive

• Ordinary shares begin trading on Nasdaq on Dec 8, 2025
• ADS program terminates after market close on Dec 5, 2025
• 1-for-275 reverse split executed concurrently with ADR termination
• Direct listing may enable eligibility for U.S. indices and ETFs that exclude ADRs
• ADS holders receive one ordinary share per ADS; no action required

Negative

• Reverse split magnitude is large: 1-for-275, materially reduces share count
• ADR program termination occurs on Dec 5, 2025, requiring operational conversion
• Potential short-term trading frictions around Dec 5–8, 2025 transition

Key Figures

Ordinary share trading date December 8, 2025 Ordinary shares to commence trading on Nasdaq

ADR termination date December 5, 2025 ADR program and Deposit Agreement expected to terminate after close

Reverse share split 1-for-275 Reverse share split of the Company’s ordinary shares

ADS to ordinary share ratio 1 ADS : 1 ordinary share Each holder of one ADS will receive one ordinary share

ATM offering size $37,000,000 At-the-market offering of Ordinary Shares or ADSs

Sales agent commission 3.0% Commission on gross sales under ATM program

ADSs sold under ATM 1,842,610 ADSs Cumulative ADS sales to date under prior ATM authorization

Net proceeds from ATM $9.7 million Net proceeds from prior ADS sales under ATM

Market Reality Check

$7.52 Last Close

Volume Volume 369,220 is 12% above the 20-day average of 330,156. normal

Technical Price $7.30 is trading above the 200-day moving average at $4.23.

Peers on Argus

MOB gained 17.74% while key aerospace & defense peers were mixed, with HOVR up 4.29%, DPRO up 9.13%, SPAI up 4.5%, OPXS up 0.77%, and CODA down 1.1%, suggesting a company-specific reaction.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 03	Conference participation	Positive	+17.7%	Announcement of participation in iAccess Alpha virtual investment conference.
Nov 25	Customer win	Positive	+6.3%	New EU customer design win for protection and security deployments.
Nov 13	Q3 2025 update	Positive	-7.2%	Strong Q3 revenue growth and U.S. sales mix alongside capital raise details.
Nov 10	Cybersecurity framework	Positive	+0.9%	Positioning Secured Autonomy framework to address new U.S. military rules.
Nov 07	Follow-on order	Positive	+7.8%	Asia Tier-1 robotics follow-on order doubling prior production order.

Pattern Detected

Recent news has usually led to positive price reactions, with only the strong Q3 2025 financial update seeing a negative move despite constructive operational metrics.

Recent Company History

Over the last month, Mobilicom has reported multiple positive developments, including an Asia-based Tier-1 follow-on order on 2025-11-07, alignment with new U.S. defense cybersecurity regulations on 2025-11-10, and a strong Q3 2025 update on 2025-11-13 featuring a 63% revenue increase to $987,000. Additional EU security design wins and conference participation preceded today’s ADS-to-ordinary-share transition news, which continues the theme of deepening U.S. market access and capital markets alignment.

Regulatory & Risk Context

Short Interest

0.05

0% 15% 30%+

low

Short interest at 0.05 of float with days-to-cover of 1.83 indicates limited short positioning pressure.

Market Pulse Summary

This announcement outlines Mobilicom’s transition from ADSs to directly listed ordinary shares on Nasdaq, effective December 8, 2025, alongside a 1-for-275 reverse share split and automatic conversion of ADSs into ordinary shares on a 1:1 basis. It emphasizes potential benefits such as index eligibility, reduced fees, and streamlined corporate actions. Investors may track how this structural shift interacts with recent capital-raising activity and ongoing operational milestones in drones and robotics.

Key Terms

american depositary shares financial

"announced its American Depositary Shares (“ADSs”) will be transitioned"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

ordinary shares financial

"transitioned to a direct listing of the Company’s ordinary shares on the Nasdaq"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

direct listing financial

"will be transitioned to a direct listing of the Company’s ordinary shares"

A direct listing is a way for a company to become publicly available for trading without issuing new shares or raising additional money beforehand. Instead, existing shares are simply made available for purchase on the stock market, allowing current investors and employees to sell their holdings. This process can offer a simpler and faster way for a company to go public, giving investors quicker access to buy and sell shares.

nasdaq capital market financial

"ordinary shares on the Nasdaq Capital Market, effective at the opening"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

etfs financial

"indices and ETFs that exclude ADRs, further broadening institutional"

ETFs, or exchange-traded funds, are investment funds that hold a collection of stocks, bonds, or other assets, and can be bought or sold on stock exchanges like individual shares. They offer investors an easy way to diversify their holdings and access different markets or sectors without buying multiple individual assets. Because they are traded throughout the day, ETFs provide flexibility and can help investors manage risk while pursuing their financial goals.

adr program financial

"By eliminating the ADR program, Mobilicom removes associated administrative"

An American Depositary Receipt (ADR) program allows investors to buy shares of a foreign company's stock through U.S. financial markets. It works like a bridge, making it easier for Americans to invest in companies from other countries without dealing with complex international trading rules. This helps investors diversify their portfolios and access global companies conveniently.

reverse share split financial

"in conjunction with a 1-for-275 reverse share split of the Company’s ordinary"

A reverse share split is when a company reduces the number of its shares outstanding by combining multiple shares into one, effectively increasing the price of each share. For investors, this can help improve the company's image or meet stock exchange listing requirements, but it does not change the total value of their investment. It’s similar to turning many small pieces of a puzzle into fewer larger pieces—nothing new is added or lost, just rearranged.

deposit agreement financial

"The American depository receipt program and the related Deposit Agreement are expected"

A deposit agreement is a written contract between a customer and a financial institution that outlines the terms for opening and maintaining a deposit account, such as a savings or checking account. It explains important details like how funds can be accessed, any fees involved, and the institution’s responsibilities. For investors, understanding this agreement is important because it clarifies their rights and the rules governing their deposited funds.

AI-generated analysis. Not financial advice.

Ordinary shares will commence trading on Nasdaq on December 8, 2025

Benefits include facilitating eligibility for some core U.S. indices and ETFs that exclude ADRs, further broadening institutional and retail investor access

Offers broader access and ease of trading for retail investors, brokers, and institutions while also reducing costs for shareholders and Mobilicom

Palo Alto, California, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW) (“Mobilicom” or the “Company”), a provider of cybersecurity and robust solutions for drones and robotics, today announced its American Depositary Shares (“ADSs”) will be transitioned to a direct listing of the Company’s ordinary shares on the Nasdaq Capital Market, effective at the opening of trading on December 8, 2025.

“For Mobilicom, this change reflects our commitment to making trading in our shares as accessible and efficient as possible for investors, as we execute on our U.S.-based growth strategy in the autonomous systems market,” said Oren Elkayam, CEO and Founder of Mobilicom. “Shareholders will benefit from direct ownership and a clearer path to U.S. index inclusion.”

Direct listing of U.S.-listed ordinary shares facilitate eligibility for certain core U.S. indices and ETFs that exclude ADRs, further broadening institutional and retail investor access.

The transition from ADSs to ordinary shares reflects the Company’s ongoing efforts to streamline its corporate structure and improve accessibility for U.S. investors. By eliminating the ADR program, Mobilicom removes associated administrative complexities and depositary fees, simplifies corporate actions, and strengthens the connection between the Company and its shareholders. The move also aligns Mobilicom with practices adopted by other global issuers, enhancing U.S. investor access and reducing operational frictions.

The American depository receipt program and the related Deposit Agreement are expected to terminate after market closes on December 5, 2025, in conjunction with a 1-for-275 reverse share split of the Company’s ordinary shares.  At such time, the Company's ADSs will be mandatorily cancelled and the Company’s ordinary shares underlying the ADSs will be distributed to holders of the ADSs. Each holder of one ADS will receive one ordinary share of the Company. The Company expects its ordinary shares will be listed and commence trading on the Nasdaq Capital Market under the Company’s existing ticker symbol “MOB” when market opens on December 8, 2025, the trading day immediately after termination of the ADR program.

The Company's board of directors has determined that termination of the ADR program and listing of the ordinary shares directly is in the best interest of the Company and its shareholders. 

ADS holders do not need to take any action to convert their holdings. The depositary bank responsible for the ADS program will provide guidance regarding the conversion process and the final cancellation of the ADSs.

About Mobilicom

Mobilicom is a leading provider of cybersecure robust solutions for the rapidly growing defense and commercial drones and robotics market. Mobilicom’s large portfolio of field-proven technologies includes cybersecurity, software, hardware, and professional services that power, connect, guide, and secure drones and robotics. Through deployments across the globe with over 50 customers, including the world’s largest drone manufacturers, Mobilicom’s end-to-end solutions are used in mission-critical functions.

For investors, please use https://ir.mobilicom.com/
For company, please use www.mobilicom.com

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. For example, the Company is using forward-looking statements when it discusses its expectation that its ordinary shares will be listed and commence trading on the Nasdaq Capital Market on December 8, 2025, executing on its U.S.-based growth strategy in the autonomous systems market, its ongoing efforts to streamline its corporate structure and improve accessibility for U.S. investors. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Mobilicom Limited’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the Company’s filings with the Securities and Exchange Commission.

Forward-looking statements contained in this announcement are made as of this date, and Mobilicom Limited undertakes no duty to update such information except as required under applicable law.

For more information on Mobilicom, please contact:

Liad Gelfer

Mobilicom Ltd
liad.gelfer@mobilicom.com

FAQ

When will Mobilicom ordinary shares begin trading on Nasdaq (MOB)?

Mobilicom ordinary shares are expected to commence trading on Nasdaq under MOB at market open on December 8, 2025.

What happens to Mobilicom ADSs and the ADR program on December 5, 2025?

The ADR program and deposit agreement are expected to terminate after market close on December 5, 2025, and ADSs will be mandatorily cancelled.

What is the reverse share split for Mobilicom and when does it occur?

A 1-for-275 reverse share split of Mobilicom ordinary shares will occur in conjunction with the ADR termination on December 5, 2025.

Do Mobilicom ADS holders need to take any action to convert to ordinary shares?

No action is required; each holder of one ADS will receive one ordinary share and the depositary bank will provide conversion guidance.

How might the ADS-to-ordinary transition affect Mobilicom’s index or ETF eligibility?

Listing ordinary shares directly is intended to facilitate eligibility for certain core U.S. indices and ETFs that exclude ADRs, broadening potential investor access.

Will Mobilicom keep the ticker symbol after the transition?

Yes; the company expects to list and trade ordinary shares on Nasdaq under the existing ticker MOB.