CollPlant (NASDAQ: CLGN), a regenerative and aesthetic medicine company, announced that its ordinary shares have been approved for trading on the Nasdaq.
Global Market® under the Company's current ticker symbol "CLGN" and will begin trading at the open of market on June 4, 2021. At such time, the Company's American Depositary Shares (ADSs) will be mandatorily cancelled and exchanged for ordinary shares at a one-for-one ratio. Shareholders holding their ADSs in book-entry or through a bank, broker or other nominee form do not need to take any action in connection with the mandatory exchange.
"Meeting the requirements for the Nasdaq Global Market® demonstrates CollPlant's growth, financial performance and stability," said Yehiel Tal, CollPlant CEO. "The listing of our ordinary shares on the Nasdaq Global Market® and transition to trading of ordinary shares is designed to elevate our visibility within the institutional marketplace, eliminate ADS commission depositary fees for our shareholders, and enhance our ability to broaden our shareholder base with the goal of driving long-term shareholder value."
A listing on the Nasdaq Global Market® is considered an indicator of status and success for companies that qualify for listing. Listed companies must satisfy stringent financial, liquidity and corporate governance requirements, both initially and on an ongoing basis.
For more information, visit http://www.collplant.com.