Biodexa Pharmaceuticals changes ADR ratio to meet nasdaq requirement

Biodexa Pharmaceuticals PLC (NASDAQ: BDRX) announced a change to its American Depositary Receipt ratio effective July 31, 2025. The new ratio will be one ADR representing 100,000 ordinary shares, compared to the current ratio of one ADR representing 10,000 ordinary shares.

ADR holders will be required to surrender their existing ADRs and receive one new ADR for every ten old ADRs held. JP Morgan Chase Bank, N.A., the company's depositary, will contact ADR holders to arrange the exchange. No fractional ADRs will be allocated, and any aggregate fractions will be sold with net proceeds distributed to entitled holders.

The change functions as a one-for-ten reverse ADR split for holders. The company's ordinary shares will not be affected by this adjustment.

Biodexa stated the ratio change aims to bring the ADR price into compliance with Nasdaq's $1.00 minimum bid price requirement, though the company noted it cannot guarantee the change will achieve this goal.

The clinical-stage biopharmaceutical company focuses on developing treatments for diseases with unmet medical needs through acquisitions.

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