Rakovina Therapeutics' Share Consolidation Announcement
Rakovina Therapeutics Inc. (TSX-V: RKV) is excited to share the date for its impending share consolidation, an important step for the Company and its investors. The consolidation will simplify the structure of the shares, making the company's capital more manageable and potentially more appealing to investors.
Details of the Share Consolidation
The effective date for this share consolidation has been set for June 24, 2025. Under this consolidation process, every ten pre-consolidation common shares will be converted into one post-consolidation common share. This means that the shareholders will receive fewer shares, but each share will represent a greater percentage of the company's value.
Trading Adjustments and CUSIP Changes
Investors can expect the new post-consolidation shares to begin trading on the TSX Venture Exchange shortly after the effective date under the existing symbol “RKV”. Following this consolidation, the new CUSIP number assigned for these shares will be 75103L309, and the new ISIN number will be CA75103L3092.
Importantly, there will be no fractional shares issued. Instead, any fractional shareholder interests will be rounded up to the nearest whole share if the fraction is one-half or more, ensuring shareholders receive equitable treatment regardless of their investment size.
Impact on Company Equity Instruments
Along with the adjustments to common shares, the consolidation will also alter the conversion price and the number of common shares available under the company’s outstanding warrants, stock options, and convertible debentures. These changes will be proportionally adjusted to align with the new structure resulting from the consolidation.
Instructions for Shareholders
Rakovina's transfer agent, Odyssey Trust Company, will be reaching out to registered shareholders with a letter of transmittal. This letter will provide clear instructions on how to exchange their pre-consolidation share certificates for the new post-consolidation share certificates or Direct Registration System (DRS) advisories. Shareholders are encouraged to follow these guidelines closely to ensure a smooth transition.
Overview of Rakovina Therapeutics
Rakovina Therapeutics is a pioneering biopharmaceutical research company dedicated to the development of innovative cancer treatments. The company's focus is on advancing novel therapeutic solutions through unique technologies that enhance the DNA-damage response using Artificial Intelligence (AI). By leveraging AI's capabilities, Rakovina can accelerate the drug development process, optimizing candidates rapidly and efficiently.
Currently, Rakovina Therapeutics has established a robust pipeline of distinct DNA-damage response inhibitors and aims to progress these innovative drug candidates into human clinical trials alongside pharmaceutical collaborators. This commitment to research and development positions Rakovina as a forward-thinking leader in the industry.
Frequently Asked Questions
What is the purpose of the share consolidation?
The share consolidation aims to streamline the company’s share structure, making it more appealing and manageable for investors.
When will the share consolidation take effect?
The share consolidation will take effect on June 24, 2025.
How will the consolidation affect my shares?
For every ten common shares you hold, you will receive one post-consolidation share, which will carry a greater value.
What happens if I have fractional shares?
Fractional shares will not be issued; instead, they will be rounded up or down depending on their value, ensuring fair distribution among shareholders.
Who can I contact for more information?
For additional inquiries, Michelle Seltenrich, Director of Corporate Development, can be contacted via email at IR@rakovinatherapeutics.com or by phone at 778-773-5432.
