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TC BioPharm (Holdings) PLC: Key Insights from Form 6-K on ADS Ratio Change

$TCBP
Form 6-K
Filed on: 2025-02-10
Source
TC BioPharm (Holdings) PLC: Key Insights from Form 6-K on ADS Ratio Change

Here are the key insights extracted from the financial report (Form 6-K) for TC BioPharm (Holdings) PLC:

  1. Company Information:
  • Name: TC BioPharm (Holdings) PLC
  • Address: Maxim 1, 2 Parklands Way, Holytown, Motherwell, ML1 4WR, Scotland, United Kingdom.
  • Contact Number: +44 (0) 141 433 7557.
  1. Filing Details:
  • Type of Filing: Form 6-K
  • Commission File Number: 001-41231
  • Reporting Period: February 2025.
  1. ADS Ratio Change:
  • The company announced a change in the ratio of its American Depositary Shares (ADSs) on February 5, 2025.
  • The new ratio is set at one ADS representing four thousand (4,000) ordinary shares, up from one ADS representing two hundred (200) ordinary shares.
  • This change is effective as of February 10, 2025, and is equivalent to a one-for-20 reverse ADS split for holders.
  1. Impact on ADS Holders:
  • The ADS Ratio Change will not affect the underlying ordinary shares; no ordinary shares will be issued or canceled.
  • Holders were required to surrender twenty (20) ADSs to receive one (1) new ADS.
  • The Bank of New York Mellon is the depositary bank managing the exchange process for the ADSs.
  1. Trading and Value Expectations:
  • The new ADSs continue to trade on the Nasdaq Capital Market under the ticker symbol "TCBP."
  • The company anticipates that the trading price of the ADSs will increase proportionally following the change, but it cannot guarantee that the new trading price will meet or exceed previous prices.
  1. Warrant Adjustments:
  • The company's public warrants were also amended due to this ratio change.
  • The exercise price of the warrants will increase from $4,000.00 to $80,000.00, and the ratio of warrants required to exercise will adjust from twelve thousand five hundred (12,500) warrants for one ADS to two hundred fifty thousand (250,000) warrants for one ADS, maintaining the aggregate exercise price.
  1. Exhibits:
  • The filing includes relevant exhibits:
    • Exhibit 99.1: Press Release dated February 5, 2025.
    • Exhibit 99.2: Repricing Notice for Holders of Public Warrants.

This report primarily focuses on the adjustment of ADS ratios and the implications for ADS holders and warrant holders, providing essential information for investors and stakeholders regarding the company's financial instruments.