Quoin Pharmaceuticals Ltd 8-K/A, filed Jul 14, 2023
Quoin Pharmaceuticals Ltd. (QNRX)
About this 8-K/A
Quoin Pharmaceuticals Ltd filed this 8-K/A on July 14, 2023, reporting on events of June 22, 2023.
Items reported
- Item 3.03: Change to shareholders' rights
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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| Item 3.03 | Material Modification to Rights of Security Holders. |
In order to comply with the minimum bid price requirement of The Nasdaq Stock Market, LLC (“Nasdaq”), on June 22, 2023, the Board of Directors of Quoin Pharmaceuticals Ltd. (the “Company”) approved the change in the ratio of its American Depositary Shares (“ADSs”) evidencing ordinary shares, no par value (“Ordinary Shares”), from one ADS representing five thousand (5,000) Ordinary Shares to one ADS representing sixty thousand (60,000) Ordinary Shares (the “Ratio Change”). The Ratio Change will result in a one for twelve split of issued and outstanding ADSs, and it will have no effect on the Ordinary Shares. The Ratio Change will be effective on or about July 18, 2023. Although the market price per ADS is expected to increase proportionally, the Company can give no assurance that the Ratio Change will result in the Company satisfying and maintaining the minimum bid price requirement of Nasdaq.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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Date: July 14, 2023 |
QUOIN PHARMACEUTICALS LTD. | |
| By: | /s/ Gordon Dunn | |
| Name: | Gordon Dunn | |
| Title: | Chief Financial Officer | |