Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Pharmaceutical company 4D Pharma (LON: DDDD) said that the US Securities and Exchange Commission (SEC) has declared effective its registration statements on Form F-4 concerning the issuance of 4D pharma American Depositary Shares (ADSs) to the shareholders of Longevity Acquisition Corporation.
Longevity Acquisition is a Nasdaq listed special purpose acquisition company that will be merging with 4D Pharma.
4D’s ADSs will begin trading on the Nasdaq under the ticker symbol LBPS once the merger is completed. 4D Pharma’s ordinary shares will continue to be traded on the AIM.
The company also sent out a circular to convene a general meeting to approve the merger with Longevity.
Following today’s announcements, 4D’s shares have fallen to lows of 133p. They have since regained some losses, now trading at 142p, down 2.71%.
Should you invest in 4D Pharma shares? 4D Pharma shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are 4D Pharma shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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