GUANGZHOU, China, May 14, 2024 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR, the "Company" or "Burning Rock"), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today announced that, as previously announced on April 26, 2024, the ratio change of its American depositary shares (the "ADSs") to Class A ordinary shares from one (1) ADS representing one (1) Class A ordinary share to one (1) ADS representing ten (10) Class A ordinary shares (the "ADS Ratio Change") will become effective on May 15, 2024 (the "Effective Date").
For Burning Rock's ADS holders, the ADS Ratio Change will have the same effect as a one-for-ten reverse ADS split. There will be no change to the Company's Class A ordinary shares. On the Effective Date, registered holders of the Company's ADSs held in certificated form will be required on a mandatory basis to surrender their certificated ADSs to Citibank, N.A., the depositary bank (the "Depositary"), for cancellation and will receive one (1) new ADS in exchange for every ten (10) existing ADSs surrendered. Holders of uncertificated ADSs in the Direct Registration System and The Depository Trust Company will have their ADSs automatically exchanged and need not take any action. The exchange of every ten (10) then-held (existing) ADSs for one (1) new ADS will occur automatically at the Effective Date, with the then-held ADSs being cancelled and new ADSs being issued by the Depositary.
Burning Rock's ADSs will continue to be traded on the NASDAQ Global Market and London Stock Exchange under the symbol "BNR", under the following new security codes:
New ADS ISIN | US12233L2060 |
New ADS UK SEDOL | BQ66DK4 |
No fractional new ADSs will be issued in connection with the change in the ADS Ratio Change. Instead, fractional entitlements to new ADSs will be aggregated and sold by the Depositary and the net cash proceeds from the sale of the fractional ADS entitlements will be distributed to the applicable ADS holders by the Depositary, in each case in accordance with the Depositary's then current procedures and practices and after any deductions as provided in the deposit agreement between the Company and the Depositary for the ADSs.
As a result of the ADS Ratio Change, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the ADS Ratio Change will be equal to or greater than ten times the ADS price before the change.
中國廣州,2024年5月14日(GLOBE NEWSWIRE)——專注於下一代測序(NGS)技術在精準腫瘤學領域應用的公司Burning Rock Biotech Limited(納斯達克股票代碼:BNR和倫敦證券交易所:BNR,“公司” 或 “Burning Rock”)今天宣佈,正如先前在2024年4月26日宣佈的那樣,其美國存托股份(“ADS”)的比率變動從代表一(1)股A類普通股的一(1)股ADS轉爲代表十(10)股A類普通股的一(1)股ADS(“ADS比率變動”)於 2024 年 5 月 15 日(“生效日期”)生效。
對於Burning Rock的ADS持有者來說,ADS比例變化將與一比十的反向ADS拆分具有相同的效果。公司的A類普通股將保持不變。在生效之日,以認證形式持有的公司存託憑證的註冊持有人將被強制要求向北卡羅來納州花旗銀行(“存託銀行”)交出經認證的存託銀行(“存託銀行”),以供取消,並且每交出十(10)張現有存託憑證即可獲得一(1)份新的ADS。直接註冊系統和存託信託公司中未經認證的ADS的持有人將自動交換其ADS,無需採取任何行動。每十(10)份當時持有(現有)的美國存託憑證將在生效之日自動交換爲一(1)份新的ADS,當時持有的存託憑證將被取消,新的ADS將由存託人發行。
Burning Rock的ADS將繼續在納斯達克全球市場和倫敦證券交易所上市,股票代碼爲 “BNR”,採用以下新的安全代碼:
新的 ADS ISIN | US12233L2060 |
全新 ADS 英國 SEDOL | BQ66DK4 |
不會發行與ADS比率變動相關的部分新ADS。取而代之的是,新ADS的部分權益將由存託人彙總和出售,出售部分ADS權益的淨現金收益將由存託人分配給適用的ADS持有人,在每種情況下,都將根據存託人當時的現行程序和慣例,並按照公司與存託人之間關於ADS的存款協議的規定進行任何扣除。
由於ADS比率變動,ADS價格預計將按比例上漲,儘管公司無法保證ADS比率變更後的ADS價格將等於或大於變更前ADS價格的十倍。