4SC announces implementation of 5:1 reverse share split as previously announced
- Intention to conduct a reverse share split announced on 6 May 2021
- Stock quotation to change on 19 July 2021
- 4SC shares allocated a new ISIN (DE000A3E5C40) and WKN (A3E 5C4)
Planegg-Martinsried, Germany, 12 July 2021 – 4SC AG (4SC, FSE Prime Standard: VSC) today announced that the capital consolidation and the 1-for-5 reverse share split approved at the General Meeting on 24 June 2021 will be implemented as planned.
Effective its recent entry in the commercial register, the share capital of 4SC AG was changed from EUR 50,570,045.00 to EUR 10,114,009.00, divided into 10,114,009 no-par value bearer shares as previously announced. The capital consolidation does not alter the amount of total assets or equity, nor does it affect the individual shareholders’ percentage share in the Company.
The stock quotation will be changed at the start of share trading on 19 July 2021. In the 5:1 consolidation, five old no-par value shares are replaced with one converted no-par value share. The converted 4SC shares will be traded on the stock exchanges under the new international securities identification number (ISIN) DE000A3E5C40 and the new German securities identification number (WKN) A3E 5C4.
Shareholders who hold a number of no-par value shares not divisible by five prior to the conversion will have fractional amounts registered to them under ISIN DE000A3E5DZ7. By 10 August 2021 at the latest, the share fractions registered to the shareholders will be rounded off into full legal rights (settlement of fractions), which will be registered to the shareholders.
Dr. Jason Loveridge, CEO of 4SC AG, commented: “We are pleased that the capital consolidation has been entered in the commercial register now and implemented as planned. This reorganization of the capital structure gives us more flexibility in exploring future funding options in order to expedite our plans for the ongoing clinical development of our core drug candidates.”
4SC AG is a clinical-stage biopharmaceutical company developing small-molecule drugs that target key indications in cancer with high unmet medical needs. 4SC’s pipeline is protected by a comprehensive portfolio of patents and currently comprises two drug candidates in clinical development: resminostat and domatinostat.
4SC aims to generate future growth and enhance its enterprise value by entering into partnerships with pharmaceutical and biotech companies and/or the eventual marketing and sales of approved drugs in select territories by 4SC itself.
4SC is headquartered in Planegg-Martinsried near Munich, Germany. The Company had 48 employees as of 31 March 2021 and is listed on the Prime Standard of the Frankfurt Stock Exchange (FSE Prime Standard: VSC; ISIN: DE000A14KL72).
Information set forth in this press release contains forward-looking statements, which involve risks and uncertainties. The forward-looking statements contained herein represent the judgement of 4SC as of the date of this press release. Such forward-looking statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond 4SC’s control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 4SC expressly disclaims any obligation or undertaking to release any updates or revisions to any such statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.