Quoin Pharma (NASDAQ: QNRX) director takes 31K ADSs for interest
Rhea-AI Filing Summary
Quoin Pharmaceuticals, Ltd. (QNRX) reported that director Anthony James Culverwell acquired 31,352 ADSs on August 27, 2026 through a grant/award acquisition. The ADSs were issued under an exchange agreement in which $161,461 of accrued interest outstanding on a note he previously purchased was exchanged for these shares, at a reported value of $5.15 per ADS. Following this transaction, he holds 34,218 ADSs directly. Each ADS represents 35 ordinary shares. The exchange agreement and the debt-for-equity exchange were approved in advance by Quoin’s audit committee and board of directors.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 31,352 shares
Net Buy
1 txn
Insider
Culverwell Anthony James
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | ADSs F1, F2 | 31,352 | $5.15 | $161K |
Holdings After Transaction:
ADSs — 34,218 shares (Direct)
Footnotes (2)
- F1. Ordinary Shares are represented by American Depositary Shares ("ADSs"). Each ADS represents thirty-five (35) ordinary shares of the Issuer.
- F2. On August 27, 2026, the Issuer and the Reporting Person, entered into an exchange agreement, pursuant to which $161,461 of accrued interest outstanding ("Outstanding Debt") owed in connection with a note previously purchased by the Reporting Person was exchanged for 31,352 ADSs. The exchange agreement and the exchange of the Outstanding Debt for the ADSs was approved in advance by the Issuer's audit committee and board of directors.
Key Figures
ADSs acquired: 31,352 ADSs
Per-ADS value: $5.15 per ADS
Accrued interest exchanged: $161,461
+3 more
6 metrics
ADSs acquired
31,352 ADSs
Grant/award acquisition on August 27, 2026
Per-ADS value
$5.15 per ADS
Value used for the 31,352 ADSs issued in the exchange
Accrued interest exchanged
$161,461
Outstanding accrued interest on a note exchanged for 31,352 ADSs
Holdings after transaction
34,218 ADSs
Direct ownership of Anthony James Culverwell following the exchange
ADS-to-ordinary-share ratio
1 ADS = 35 ordinary shares
Each ADS represents thirty-five ordinary shares of Quoin Pharmaceuticals, Ltd.
Transaction date
August 27, 2026
Date of the exchange agreement and ADS issuance
Key Terms
American Depositary Shares, exchange agreement, Outstanding Debt, audit committee, +1 more
5 terms
exchange agreement financial
"entered into an exchange agreement, pursuant to which $161,461 of accrued interest"
A written deal in which two parties agree to swap assets, securities or obligations under set terms—think of it as a formal swap or trade contract. For investors it matters because such agreements can change who owns what, alter a company’s capital structure, affect future cash flows or dilute existing shares, and therefore influence value and risk in a straightforward, contract-driven way.
Outstanding Debt financial
"accrued interest outstanding ("Outstanding Debt") owed in connection with a note"
audit committee regulatory
"was approved in advance by the Issuer's audit committee and board of directors."
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
board of directors regulatory
"approved in advance by the Issuer's audit committee and board of directors."
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
FAQ
What insider transaction did QNRX director Anthony James Culverwell report on this Form 4?
Director Anthony James Culverwell reported acquiring 31,352 ADSs of Quoin Pharmaceuticals, Ltd. on August 27, 2026 through a grant/award acquisition linked to an exchange of accrued interest on a previously purchased note for new ADSs.
How many QNRX ADSs does Anthony James Culverwell own after this transaction?
After the transaction, Anthony James Culverwell directly owns 34,218 ADSs of Quoin Pharmaceuticals, Ltd. This figure reflects his holdings following the exchange of accrued interest for 31,352 ADSs on August 27, 2026.
What consideration was exchanged for the 31,352 QNRX ADSs reported in this Form 4?
The 31,352 ADSs were issued in exchange for $161,461 of accrued interest outstanding on a note previously purchased by Anthony James Culverwell. This debt-for-equity exchange was carried out under an exchange agreement dated August 27, 2026.
What is the implied value per QNRX ADS in the reported exchange?
The filing states a transaction value of $5.15 per ADS for the 31,352 ADSs issued in the exchange. Multiplying this per-ADS value by the share count corresponds to the $161,461 of accrued interest that was exchanged.
Was the QNRX debt-for-equity exchange approved by corporate governance bodies?
Yes. The company states that the exchange agreement and the exchange of $161,461 of accrued interest for 31,352 ADSs were approved in advance by Quoin Pharmaceuticals, Ltd.’s audit committee and board of directors.
AI-generated analysis. How Rhea-AI works. Not financial advice.
