Suda Pharmaceuticals Ltd. is proposing a 25-to-1 consolidation of its shares to mitigate certain share price issues.
If shareholders approve the consolidation at the company's general meeting on Nov. 12, the issued shares in Suda will decrease to about 142 million shares from about 3.6 billion shares. Following approval, options will also be reorganized and consolidated in the same ratio.
The exercise price of the options will also be adjusted in inverse proportion to the consolidation's ratio.
Suda Pharmaceuticals is a drug delivery company focusing on oro-mucosal administration.