- ONWARD Medical (OTCQX: ONWRY) has launched a Level 1 American Depositary Receipt (ADR) program in the US.
- The ADRs are traded on the OTCQX Best Market, aiming to improve access for US investors.
- Bank of New York Mellon acts as the depositary bank for the ADR program.
ONWARD Medical N.V. (Euronext: ONWD, OTCQX: ONWRY), a medical technology company specializing in spinal cord stimulation therapies, has announced the establishment of a sponsored Level 1 ADR program in the United States. The program enables the trading of ONWARD's ADRs on the OTCQX Best Market under the ticker symbol ONWRY.
The introduction of the ADR program is set to expand ONWARD's shareholder base and enhance stock liquidity by facilitating easier trading for US institutional and retail investors. Each ONWARD ADR is equivalent to one ordinary share and is denominated in US dollars, simplifying the process for American investors.
Bank of New York Mellon (BNY) serves as the depositary bank and transfer agent for ONWARD's ADR program. US investors can access financial disclosures and Real-Time Level 2 quotes for ONWRY on otcmarkets.com.
This strategic move is part of ONWARD's effort to connect with US investors, following recent regulatory clearances and commercial launches of their innovative technologies aimed at restoring movement in individuals with spinal cord injuries.
