Proposed listing on NASDAQ with RADX ticker symbol
Form 20-F registration filed with Securities and Exchange Commission
Trading expected to commence late March 2023
SYDNEY, Australia, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Radiopharm Theranostics (ASX:RAD), a developer of a world-class platform of radiopharmaceutical products for both diagnostic and therapeutic uses, today announced the initiation of the process to obtain a secondary listing on the Nasdaq Capital Market.
The Company has filed a registration statement on Form 20-F with the US Securities and Exchange Commission (SEC) and a listing application with Nasdaq. The Company expects the SEC and Nasdaq to complete their respective review processes by late March and, when their processes are successfully completed, then the listing on Nasdaq would occur.
The Nasdaq listing will take the form of a Level 2 American Depositary Receipt program, with each American Depositary Share representing 100 ordinary shares, and will not involve the raising of any capital. The American Depositary Shares (ADSs) are expected to trade on Nasdaq under the ticker RADX. Deutsche Bank Trust Company Americas will be appointed by the Company as depositary, custodian, and registrar of the ADSs.
The Nasdaq listing will complement the existing primary listing of RAD shares on the Australian Securities Exchange (ASX). Ordinary shares are currently listed on the ASX under the RAD symbol where they will continue to trade following the Nasdaq listing.
"We are confident that obtaining a listing on Nasdaq will complement our loyal existing Australian shareholder base by expanding Radiopharm’s access to investors globally, and thereby driving increased shareholder value with enhanced liquidity for all shareholders," said Riccardo Canevari, CEO and Managing Director of Radiopharm Theranostics.
This program is part of an ongoing strategy to expand the Company’s reach to US institutional and retail investors by enabling them to purchase the Company’s shares via a US stock market, in the American time zone and in US dollars.
The review process by the SEC in relation to the registration statement and by Nasdaq in relation to the listing application continues to be in progress. There can be no assurance as to the completion or timing of this process or such a listing.
Authorised on behalf of the Radiopharm Theranostics board of directors by Executive Chairman Paul Hopper.
For more information:
CEO & Managing Director
P: +1 862 309 0293
LifeSci Advisors, LLC
P: +1 917 679 9282
P: +61 406 671 515
P: +61 451 896 420
Follow Radiopharm Theranostics:
Website – https://radiopharmtheranostics.com/
Twitter – https://twitter.com/TeamRadiopharm
LinkedIn – https://www.linkedin.com/company/radiopharm-theranostics/
Not an offer in the United States
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the US Securities Act or exempt from the registration requirements of the US Securities Act and applicable US state securities laws.