Swiss Auris Medical Holding AG (Nasdaq) implements Reverse Share Split through Intra-Group Merger
On March 12, 2018, the extraordinary general meeting of shareholders approved the merger of Auris Medical Holding AG, a Swiss company listed on Nasdaq, into Auris Medical NewCo Holding AG, a newly incorporated, wholly-owned Swiss Subsidiary. The Merger became effective on March 13, 2018, upon its registration in the Commercial Register in the Canton of Zug, Switzerland. Pursuant to the Merger, the shareholders of the transferring entity received 1 registered share with a nominal value of CHF 0.02 of the surviving company for every 10 old registered shares with a nominal value of CHF 0.40 each, effectively resulting in a “reverse share split” at a ratio of 10-for-1. The registered shares of the surviving company (renamed Auris Medical Holding AG) start trading on the Nasdaq Capital Market on March 14, 2018, under the trading symbol “EARS”.
Walder Wyss has acted as legal counsel to Auris Medical. The team has been led by Alex Nikitine (Partner, M&A, Capital Markets) and further included Thiemo Sturny (Counsel, M&A, Capital Markets), Marion Bähler (Associate, M&A, Capital Markets), Vanessa C. Haubensak (Associate, M&A, Notary Services), Janine Corti (Counsel, Tax) and Michael Müller (Trainee, Corporate/M&A).