Current Report Filing (8-k)
28 Junio 2023 - 2:02PM
Edgar (US Regulatory)
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0001671502
2023-06-22
2023-06-22
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xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 22, 2023
QUOIN
PHARMACEUTICALS LTD. |
(Translation of registrant’s name into English) |
State of Israel |
|
001-37846 |
|
92-2593104 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
42127 Pleasant Forest Court
Ashburn, VA |
|
20148-7349 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (703) 980-4182
Not applicable |
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered
pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
American Depositary Shares, each representing five thousand (5,000) Ordinary Shares, no par value per share |
|
QNRX |
|
The Nasdaq Stock Market LLC |
Ordinary Shares, no par value per share* |
|
|
|
N/A |
| * | Not for trading, but only in connection with the registration of the American Depositary Shares pursuant
to requirements of the Securities and Exchange Commission. |
Indicate by check
mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
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 17, 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.
Date: June 28, 2023 |
QUOIN PHARMACEUTICALS LTD. |
|
|
|
|
|
By: |
/s/ Gordon Dunn |
|
Name: |
Gordon Dunn |
|
Title: |
Chief Financial Officer |
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