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: September 2017 (Report No. 2)
Commission file number: 001-36578
BIOBLAST PHARMA LTD.
(Translation of registrant’s name into English)
37 Dereh Menechem Begin St., 15th Floor
Tel Aviv 6522042 Israel
(Address of principal executive offices)
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 x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(1):_____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(7):_____
This Report of Foreign Private Issuer on Form 6-K of the Registrant consists of the press release issued by the Registrant on September 25, 2017, announcing the effectiveness of a five to one reverse split of the Registrant’s share capital and a related amendment to the Company’s articles of association, which is attached hereto as Exhibit 99.1.
Exhibit 99.1 is incorporated by reference into the registration statement on Form F-3 (File No. 333-206032) and the registration statements on Form S-8 (File No. 333-203114 and File No. 333-210459) of the Registrant, filed with the Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
|99.1||Press Release issued by Bioblast Pharma Ltd. on September 25, 2017.|
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.
|Bioblast Pharma Ltd.|
|By:||/s/ Fredric Price|
Date: September 25, 2017
Bioblast Announces Effectiveness of Five to One Reverse
Ordinary Shares Will Begin Trading on a Split-Adjusted
Basis on September 25, 2017
Tel Aviv, Israel, - September 25, 2017 – Bioblast Pharma Ltd. (NasdaqCM: ORPN), a clinical-stage, orphan disease-focused biotechnology company, announced the effectiveness of a five to one reverse split of its share capital. As previously reported, the reverse split was approved by the Company’s shareholders at an Extraordinary General Meeting of Shareholders of the Company held on September 18, 2017.
The reverse split is intended to increase the per-share trading price of the Company’s ordinary shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market. As a result of the reverse split and a related amendment to the Company’s articles of association which is now effective, every five ordinary shares, par value NIS 0.01 per share, shall be consolidated into one ordinary share, par value NIS 0.05. No fractional ordinary shares will be issued as a result of the reverse split and any fractional shares will be rounded up to the nearest whole number.
Trading of the Company’s ordinary shares on the NASDAQ Capital Market will continue, on a split-adjusted basis, with the opening of the market on Monday, September 25, 2017, under new CUSIP number M20156119. Immediately subsequent to the reverse split, there will be approximately 3,342,261 of the Company’s ordinary shares issued and outstanding.
The Company has retained its transfer agent, Vstock Transfer, LLC (“Vstock”), to act as its exchange agent for the reverse split. Vstock will provide shareholders of record as of the effective date a letter of transmittal providing instructions for the exchange of their certificates. Shareholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse split, subject to brokers’ particular processes, and will not be required to take any action in connection with the reverse split.
For more information regarding the Company’s reverse split, please refer to the proxy statement filed by the Company with the U.S. Securities and Exchange Commission as an exhibit to its Report on Form 6-K on August 14, 2017.
Bioblast Pharma is a clinical-stage biotechnology company committed to developing clinically meaningful therapies for patients with rare and ultra-rare genetic diseases. Bioblast is traded on the NASDAQ under the symbol “ORPN.” For more information, please visit our website: www.BioblastPharma.com, the content of which is not incorporated herein by reference.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, we are using forward-looking statements when we discuss our ability to continue to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market. In addition, historic results of scientific research and clinical and preclinical studies do not guarantee that the conclusions of future research or studies will suggest identical or even similar conclusions or that historic results referred to in this press release would not be interpreted differently, in light of additional research and clinical and preclinical study results. Because such statements deal with future events and are based on Bioblast Pharma Ltd.’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Bioblast Pharma could differ materially from those described in or implied by the statements in this press release, including those discussed under the heading “Risk Factors” in Bioblast Pharma’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on February 24, 2017, and in any subsequent filings with the SEC. Except as otherwise required by law, Bioblast Pharma disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.
CFO and VP Finance and Administration
Bioblast Pharma Ltd
Phone: 972 3 795 5555