SaverOne Implements Change in Ratio of Shares to ADSs to Meet Nasdaq Minimum Bid Price Requirement

Core Points - SaverOne 2014 Ltd. is facing potential delisting from Nasdaq due to non-compliance with the minimum bid price requirement of $1.00 per share, following a reverse stock split within the past year [1] - The company plans to appeal this determination by requesting a hearing before the Nasdaq Hearings Panel, which will temporarily stay the suspension of its securities [2] - As of February 21, 2025, SaverOne implemented a change in the ratio of its American Depositary Shares (ADS) to ordinary shares, resulting in a closing bid price of over$1.00 [3] Company Compliance and Listing Status - The company is not eligible for the standard 180-day compliance period due to the recent reverse stock split, which complicates its ability to regain compliance with Nasdaq listing rules [1][4] - SaverOne intends to present a compliance plan to the Nasdaq Hearings Panel, although there is no guarantee that the plan will be accepted or that the company will meet continued listing requirements [4] Business Overview - SaverOne's technology aims to reduce driver distraction caused by mobile phone usage, which is a significant contributor to road accidents, with the annual cost of such accidents in the U.S. estimated at $870 billion [5] - The primary target markets for SaverOne include commercial and private vehicle fleets, vehicle manufacturers, and insurance and leasing companies, with a focus on the Israeli, European, and U.S. markets [6] - The company is also developing a sensor system for detecting vulnerable road users through their cellphone footprint, enhancing vehicle safety [8]