SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2023
Commission File Number: 001-36582
Altamira Therapeutics Ltd.
(Exact name of registrant as specified in its charter)
Clarendon House, 2 Church Street
Hamilton HM 11, Bermuda
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
Reverse Share Split
As previously announced, on June 26, 2023, Altamira Therapeutics Ltd. (the “Company”) received a letter from the Listings Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the minimum bid price per share for its common shares was below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Deficiency”). The Company has a compliance period of 180 calendar days (the “Compliance Period”) to regain compliance with Nasdaq’s minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company’s common shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.
In order to remediate the Bid Price Deficiency, in the event of the Company’s common share market price continues to not meet the $1.00 minimum bid price requirement, the Company intends to effect a reverse share split on or prior to July 31, 2023, at a ratio and at a time to be determined by the Company’s board of directors, taking into account the market price of the common shares at such time.
There can be no assurance that any reverse share split will cause the Company to regain compliance with the minimum bid price requirement, or that if the Company regains compliance it will maintain compliance with such requirement or the other continued listing requirements of Nasdaq.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Altamira Therapeutics Ltd.|
|By:||/s/ Thomas Meyer|
|Title:||Chief Executive Officer|
Date: July 3, 2023