Akari Therapeutics to Implement 40-for-1 ADS Exchange Raising Ratio to 1:80,000 Shares
Akari Therapeutics will change its American Depositary Share ratio from one ADS per 2,000 ordinary shares to one ADS per 80,000 ordinary shares, effective March 31, 2026. Each holder must exchange every 40 existing ADSs for one new ADS as part of a Nasdaq minimum bid price compliance effort.
1. ADS Ratio Change Details
Akari Therapeutics will adjust its ADS ratio so that one ADS represents 80,000 ordinary shares instead of the previous 2,000 shares, effective March 31, 2026. This change equates to a 40-for-1 exchange of existing ADSs for new ADSs and does not alter the underlying ordinary share count.
2. Nasdaq Compliance Objective
The ratio adjustment is designed to bolster Akari’s compliance with the Nasdaq Capital Market’s minimum bid price requirement, ensuring continued listing eligibility. Management anticipates the consolidation will elevate the ADS trading price above the minimum threshold without issuing new equity.
3. Exchange Mechanics and Fractional Handling
Deutsche Bank, as depositary, will facilitate the mandatory exchange, requiring holders to submit every 40 ADSs in return for one new ADS. No fractional ADSs will be issued; fractional entitlements will be aggregated, sold, and net proceeds distributed to holders after fees and taxes.