Relief Therapeutics Files Amendment No. 2 to its Form F-6 Registration Statement with the U.S. Securities and Exchange Commission to Reverse Split and Change the Ratio of its ADRs to Ordinary Shares from 1 to 150 to 1 to 200
GENEVA, SWITZERLAND / ACCESSWIRE / October 25, 2022 / RELIEF THERAPEUTICS Holding SA (SIX:RLF)(OTCQB:RLFTF)(OTCQB:RLFTY) ("Relief"), announced today that it has filed Amendment No. 2 to its Form F-6 registration statement for depositary shares evidenced by American Depositary Receipt ("ADR") with the U.S. Securities and Exchange Commission ("SEC"). The amendment was filed to reverse split and change the ratio of Relief's ADRs to Relief's ordinary shares from 1 to 150 to 1 to 200. The new ratio will take effect on November 3, 2022. The reverse split and ratio change is being undertaken as part of Relief's plan to prepare for an uplist of its ADRs to the NASDAQ Stock Market.
ABOUT RELIEF'S ADR PROGRAM
Relief's ADRs are currently traded on the over-the-counter ("OTC") under the trading symbol ("RLFTY"). An ADR is a negotiable receipt, resembling a stock certificate, that is issued by a U.S. depositary bank appointed by a company to evidence one or more American Depositary Shares ("ADSs"). In the case of Relief's ADRs, each ADS currently represents 150 of Relief's ordinary shares, and effective November 3, 2022, the ratio will change and each ADS will going forward represent 200 of Relief's ordinary shares. On the effective date of the reverse split, three new ADRs will be issued for four existing ADRs, and fractional ADRs will be paid as cash in lieu.
ADRs allow U.S. investors to buy shares in foreign companies without the need for cross-border or cross-currency transactions. They are priced in U.S. dollars and can be traded like shares of U.S.-based companies listed on the OTC market. Under the program, the owners, and holders of ADSs have the same rights to dividends and distributions and voting powers as the holders of Relief's ordinary shares subject, however, to enforcement procedures provided in the deposit agreement entered into by and among Relief, J.P. Morgan, as the depositary, and the owners and holders of ADSs.
Instructions for converting Relief ordinary shares into ADRs are posted on Relief's website at https://www.relieftherapeutics.com/investor-relations or click here.
ABOUT RELIEF
Relief is a Swiss, commercial-stage, biopharmaceutical company focused on identification, development and commercialization of novel, patent protected products intended for the treatment of rare and ultra-rare diseases including metabolic disorders, pulmonary diseases, and connective tissue disorders. Relief's diversified pipeline consists of assets that have the potential to effectively address significant unmet medical needs, including PKU GOLIKE®, engineered with Relief's proprietary Physiomimic technology, which is the first prolonged-release amino acid product commercialized for the dietary management of phenylketonuria ("PKU"). Relief has a Collaboration and License Agreement with Acer Therapeutics for the worldwide development and commercialization of ACER-001 (sodium phenylbutyrate) for the treatment of various inborn errors of metabolism, including Urea Cycle Disorders ("UCDs") and Maple Syrup Urine Disease ("MSUD"). Relief also continues to develop aviptadil for several rare pulmonary indications. Further, Relief is in clinical development for APR-TD011, a differentiated acid oxidizing solution of hypochlorous acid intended for the treatment of epidermolysis bullosa ("EB"), a group of rare, genetic, life-threatening connective tissue disorders; APR-TD011 has been granted Orphan Drug Designation by the FDA. Finally, Relief is commercializing several legacy products via licensing and distribution partners.
RELIEF THERAPEUTICS Holding SA is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbols RLFTF and RLFTY.
For more information, visit www.relieftherapeutics.com. Follow Relief on LinkedIn.
CONTACT:
RELIEF THERAPEUTICS Holding SA
Jack Weinstein
Chief Financial Officer and Treasurer
[email protected]
FOR MEDIA/INVESTOR INQUIRIES:
LifeSci Advisors
Irina Koffler
+1-917-734-7387
[email protected]
Disclaimer: This communication expressly or implicitly contains certain forward-looking statements concerning RELIEF THERAPEUTICS Holding SA and its businesses. Such statements involve certain known and unknown risks, uncertainties, including (i) whether Relief's contemplated uplist of its ADRs to the NASDAQ Stock Market will be completed, and (ii) those other factors discussed in RELIEF THERAPEUTICS Holding SA's filings with the SIX Swiss Exchange and the U.S. Securities and Exchange Commission, which could cause the actual results, financial condition, performance or achievements of RELIEF THERAPEUTICS Holding SA to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. RELIEF THERAPEUTICS Holding SA is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction, nor shall there be any offer or sale of securities in the United States or any other jurisdiction in which such offer, solicitation, or sale would be unlawful unless registered and/or qualified under applicable securities laws. This press release does not constitute a prospectus according to art. 35 of the Swiss Financial Services Act dated 15 June 2018, as amended ("FinSA"), or art. 27 et seqq. of the SIX Swiss Exchange Listing Rules. There is no intention or permission to publicly offer, solicit, sell or advertise, directly or indirectly, any securities of Relief in or into Switzerland within the meaning of FinSA. Further, the ADRs have not been registered under the Securities Act of 1933, as amended (the "Act"), and no public offering of securities shall be made in the United States except by means of a prospectus meeting made available by Relief that contains detailed information about Relief and its management, as well as financial statements meeting the requirements of the Act.
SOURCE: Relief Therapeutics Holdings AG