Saverone implements change in ratio of shares to adss to meet nasdaq minimum bid price requirement

Petah tikvah, israel, feb. 21, 2025 (globe newswire) -- saverone 2014 ltd. (nasdaq: svre, tase: svre), on february 20, 2025, saverone 2014 ltd. received a letter from the listing qualifications department of the nasdaq stock market llc, notifying the company that it was not in compliance with nasdaq listing rule 5550(a)(2) which requires listed companies to maintain a minimum bid price of $1.00 per share. normally, a company would be afforded a 180-calendar day period to demonstrate compliance with the minimum bid price requirement. however, pursuant to recently enacted nasdaq regulations, the company is not eligible for any compliance period) because the company has effected a reverse stock split over the prior one-year period. the company's adss are subject to delisting from nasdaq unless the company requests an appeal of this determination by february 27, 2025.
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