---
title: "Evaxion Biotech (now Evaxion A/S) completes ADS ratio change"
url: "https://aibio.space/news/evaxion-biotech-now-evaxion-s-completes-ads-ratio-change-like-1-5/"
publisher: "aibio.space (Biotech Investor Relations News)"
date: "2025-01-14"
section: "Listings"
tickers: "NASDAQ:EVAX"
source: "https://www.sec.gov/Archives/edgar/data/1828253/000117184325000246/exh_991.htm"
summary: "Each ADS now represents fifty ordinary shares instead of ten. The company says the change is meant to support liquidity in its ADSs on Nasdaq."
---

By the aibio.space news desk.

Sources

- [Evaxion A/S 6-K (2025-01-14)](https://www.sec.gov/Archives/edgar/data/1828253/000117184325000246/exh_991.htm)

[EVAX](https://aibio.space/companies/evaxion/)

2025-01-14

# Evaxion Biotech (now Evaxion A/S) completes ADS ratio change, like a 1-for-5 split

Tickers [EVAX](https://aibio.space/companies/evaxion/)

Each ADS now represents fifty ordinary shares instead of ten. The company says the change is meant to support liquidity in its ADSs on Nasdaq.

## Key facts

- **Company**: Evaxion A/S (NASDAQ: EVAX)

- **News type**: Listings

- **Primary source**: [Evaxion A/S 6-K (2025-01-14)](https://www.sec.gov/Archives/edgar/data/1828253/000117184325000246/exh_991.htm)

*The White House and its lawn. CC0, via rawpixel. The picture shows the field, not the companies named.*

Evaxion Biotech A/S (now Evaxion A/S) (NASDAQ: [EVAX](https://aibio.space/companies/evaxion/)) said on January 14, 2025, that its previously disclosed change to the ratio of its American Depositary Shares (ADSs) took effect that day. Each ADS now represents fifty ordinary shares of DKK 1 nominal value. Before, one ADS represented ten ordinary shares.

For ADS holders, the company says, the change has the same effect as a one-for-five reverse ADS split. It is intended to further support liquidity in the ADSs.

The exchange of one new ADS for every five existing ADSs happened automatically on the effective date. The Bank of New York Mellon, the depositary bank, cancelled the old ADSs and issued the new ones. Holders of certificated ADSs had to surrender them to the depositary. Holders of uncertificated ADSs in the Direct Registration System and at The Depository Trust Company were exchanged automatically.

No fractional new ADSs were issued. The depositary will aggregate and sell fractional entitlements and distribute the net cash proceeds, after fees, taxes and expenses, to the holders.

The ADSs continue to trade on The Nasdaq Capital Market under the symbol "EVAX." Evaxion expects the ADS trading price to rise proportionally but says it can give no assurance of that, or of any effect on liquidity.

[Report an error](https://aibio.space/reputation/#correction)

## Companies in this story

EVAX

Evaxion A/S

NASDAQ · Denmark

Open the starter desk

## More in Listings

Listings

### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/)

Oct 29, 2026

Listings

### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/)

Oct 29, 2026

Listings

### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/)

Oct 28, 2026

---
Source page: https://aibio.space/news/evaxion-biotech-now-evaxion-s-completes-ads-ratio-change-like-1-5/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Evaxion Biotech (now Evaxion A/S) completes ADS ratio change", 2025-01-14, https://aibio.space/news/evaxion-biotech-now-evaxion-s-completes-ads-ratio-change-like-1-5/