Relief Therapeutics Holding AG (RLFTF)

[Joe Kaplan]

Relief Therapeutics Announces that more than 400,000 of its ADRs are Currently Outstanding and that, as a Result, the Company has Achieved an Important NASDAQ Initial Listing Milestone

https://finance.yahoo.com/news/relief-therapeutics-announces-more-400-052000953.html

GENEVA, SWITZERLAND / ACCESSWIRE / October 10, 2023 / RELIEF THERAPEUTICS Holding SA (SIX:RLF)(OTCQB:RLFTF)(OTCQB:RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options with the potential for transformative outcomes to benefit those suffering from select specialty and rare diseases, today announced that over 400,000 of its ADRs are now outstanding. Since one of the key requirements for a NASDAQ listing of ADRs is the requirement that a company have more than 400,000 ADRs outstanding at the time of its initial listing, this important milestone has now been achieved. If Relief is successful in listing its ADRs on the NASDAQ Stock Market, Relief's ADR listing will complement the existing listing of its ordinary shares on the SIX Swiss Exchange.
Relief Therapeutics Holdings AG, Friday, May 26, 2023, Press release picture
Relief Therapeutics Holdings AG, Friday, May 26, 2023, Press release picture

"We are pleased that our shareholders have contributed ordinary shares in return for ADRs in an effort to aid in our objective of listing our ADRs on a U.S. national securities exchange," said Jack Weinstein, chief executive officer of Relief. "Once the remaining requirements for listing are met, which primarily includes achieving a market price of $4.00 per ADR, we intend to progress quickly towards a NASDAQ listing of our ADRs." Mr. Weinstein continued, "Achieving a listing of our ADRs on a U.S. national exchange will broaden the pool of institutional investors able to invest both with open market purchases of our ADRs and in potential future U.S. offerings. We believe that Relief can obtain a NASDAQ listing status by the end of this year, and we are currently exploring several avenues to meet the remaining NASDAQ initial listing requirements."