Chemomab Therapeutics (CMMB) sets 1-for-4 reverse ADS split effective Aug 26
Rhea-AI Filing Summary
Chemomab Therapeutics Ltd. is changing the ratio of its American Depositary Shares (ADSs) to ordinary shares. Each ADS, which currently represents twenty ordinary shares, will represent eighty ordinary shares after the change, effectively a one-for-four reverse ADS split for ADS holders. The ratio change will take effect on August 26, 2025.
The Company’s ADSs will continue to trade on the Nasdaq Capital Market under the ticker CMMB, with a new CUSIP number of 16385C203. The Bank of New York Mellon, as depositary bank, will exchange every four existing ADSs for one new ADS on the effective date. No new ADSs will be issued in connection with this adjustment, and any fractional ADS positions will be aggregated, sold by the depositary, and the net cash proceeds distributed to affected ADS holders.
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FAQ
What ADS ratio change did Chemomab Therapeutics (CMMB) announce?
Chemomab Therapeutics announced a ratio adjustment of its American Depositary Shares so that each ADS, which currently represents 20 ordinary shares, will represent 80 ordinary shares. This functions as a one-for-four reverse ADS split for ADS holders.
When will Chemomab Therapeutics’ new ADS-to-share ratio take effect?
The ADS ratio change, in which one ADS will represent 80 ordinary shares, will take effect on August 26, 2025.
Will Chemomab Therapeutics (CMMB) remain listed on Nasdaq after the ADS ratio change?
Yes. Chemomab Therapeutics’ ADSs will continue to trade on the Nasdaq Capital Market under the ticker CMMB, and will have an updated CUSIP number of 16385C203.
Do Chemomab ADS holders need to take any action for the reverse ADS split?
The Company states that the ratio adjustment will essentially serve as a one-for-four reverse ADS split for ADS holders, requiring no action on their part. The Bank of New York Mellon, as depositary, will arrange the exchange.
How will Chemomab handle fractional ADS positions from the ratio change?
Any fractional ADSs resulting from the adjustment will be aggregated by the depositary bank, which will attempt to sell them and distribute the net cash proceeds to the respective ADS holders.
Is Chemomab issuing new ADSs as part of this ADS ratio adjustment?
No. The Company states that there will be no issuance of new ADSs in connection with the ADS ratio adjustment.
How is this 6-K related to Chemomab’s existing registration statements?
The report is incorporated by reference into Chemomab’s Form F-3 registration statements (File Nos. 333-275002 and 333-281750) and Form S-8 registration statements (File Nos. 333-259489 and 333-266868).