SaverOne avoids delisting by increasing ratio of ADS to ordinary shares

From GlobeNewswire: 2025-02-21 17:05:00

SaverOne 2014 Ltd. received notice from Nasdaq regarding non-compliance with the minimum bid price requirement of $1.00 per share. The company’s ADSs are at risk of delisting unless an appeal is requested by February 27, 2025. SaverOne implemented a change in the ratio of its ADS to ordinary shares, bringing the closing bid price above $1.00. The company plans to present a compliance plan to the Nasdaq Hearings Panel, aiming to maintain listing on Nasdaq.

SaverOne’s technology aims to prevent driver distraction by restricting access to distracting apps on mobile phones while driving. This technology is crucial in reducing road accidents, with a significant portion attributed to phone use while driving. The company targets commercial and private vehicle fleets, vehicle manufacturers, insurance companies, and leasing companies. SaverOne’s strategic focus is on providing aftermarket solutions and integrating technologies into OEM vehicles to enhance safety measures and prevent accidents.



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