Can-Fite Announces Reverse Split and ADS Ratio Change

Can-Fite BioPharma Ltd. announced a 1-for-3,000 reverse split of its ordinary shares and a corresponding change in the ratio of ordinary shares underlying its American Depositary Shares (ADSs). The reverse split, approved by shareholders on November 10, 2025, will consolidate every three thousand pre-split ordinary shares into one new ordinary share. The ADS ratio will change from one ADS representing 300 ordinary shares to one ADS representing 2 ordinary shares. This change will be effective on the NYSE American on January 5, 2026. For ADS holders, this is equivalent to a one-for-twenty ADS split, requiring them to exchange twenty existing ADSs for one new ADS. The total number of outstanding ordinary shares will be reduced, and the authorized number of ordinary shares will decrease proportionally. Fractional shares will be rounded up to the nearest whole share for ordinary shareholders, and fractional ADS entitlements will be sold, with net proceeds distributed to holders. The reverse split and ratio change are not expected to impact shareholders' percentage ownership or voting power, except for minimal effects from fractional share treatment. The company anticipates a proportional increase in the ADS price, though this is not guaranteed. The changes are set to be recorded with the Tel-Aviv Stock Exchange on January 2, 2026, with the first trading date for the new shares on January 5, 2026.