SplitAug 12, 2026, 06:08 AM
NOVONIX Changes ADS Ratio to 1:40, Equivalent to 1-for-10 Reverse Split
AI Summary
NOVONIX Limited announced a change in its American Depositary Share (ADS) ratio, moving from one ADS representing four ordinary shares to one ADS representing forty ordinary shares. This adjustment is equivalent to a one-for-ten reverse split of the existing ADSs and is expected to become effective on August 27, 2026. The primary purpose of this change is to increase the per-ADS trading price to help the company regain compliance with Nasdaq's minimum bid price requirement, as its ADSs had been trading below US$1.00 for 30 consecutive business days.
Key Highlights
- NOVONIX is changing its American Depositary Share (ADS) ratio from 1 ADS representing 4 ordinary shares to 1 ADS representing 40 ordinary shares.
- The change is equivalent to a one-for-ten reverse split of the existing ADSs, where 10 existing ADSs will be exchanged for 1 new ADS.
- The new ADS ratio is expected to become effective on August 27, 2026.
- The change aims to increase the per-ADS trading price to help regain compliance with Nasdaq's minimum bid price requirement (below $1.00 per ADS).
- The change will not affect the number of NOVONIX ordinary shares on issue or those listed on the ASX.
Price Impact
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