BrainsWay to Execute 2-for-1 ADS Forward Split Effective March 3, 2026
BrainsWay will adjust its American Depositary Share ratio from 2-to-1 to a 1-to-1 structure, effective March 3, 2026, resulting in a 2-for-1 forward split of its ADSs. Each existing ADS holder will receive one additional ADS per share to simplify its capital structure and boost liquidity.
1. Ratio Adjustment Plan
BrainsWay’s Board approved changing the ADS-to-ordinary share ratio from the current 2-to-1 to a 1-to-1 structure, equating to a 2-for-1 forward split of its ADSs. The new ratio will become effective before trading begins on NASDAQ on March 3, 2026, with ADS holders automatically receiving one extra ADS for each held.
2. Trading Impact and Liquidity
Following the ratio change, each ADS will represent half the number of ordinary shares it previously did, so the trading price of the ADSs is expected to halve accordingly. Management expects the simplified one-to-one ratio to enhance price comparability between NASDAQ and the Tel Aviv Stock Exchange, improve market accessibility, and support deeper liquidity.
3. Investor Procedures and Valuation Clarity
Holders of ADSs in book-entry form or through brokers need not take any action, as the additional ADSs will appear automatically in their accounts. The adjustment aims to offer investors a clearer basis for assessing BrainsWay’s valuation by aligning ADS and ordinary share structures.