The France-based company said it will list under two separate tickers representing its American Depository Receipts under “MRNTY” and its ordinary shares under “MRNTF.” Each ADR represents one share of the company’s ordinary shares, it added, and investors will have the opportunity to purchase either.
“Being qualified to trade on the OTCQX Best Market in the U.S. is a great opportunity for Medicrea as well as for institutional and individual investors looking for a transformational medical device company. We believe that our proprietary patient-specific UNiD ASI technology will become standard of care across the spine industry over the coming years and that it will replace the current approach, which requires manual implant manipulation and selection from a limited range that is not tailored to individual patients or surgeons. The U.S. is an important market for Medicrea’s UNiD ASI platform as it represents the largest global market for spinal surgery and represents a key growth area with the Company’s largest subsidiary based in New York City. As we continue to drive Medicrea’s technology adoption in the U.S., we want U.S. investors to have a simple and efficient way to invest in Medicrea. Joining OTCQX will complement our European listing on EURONEXT Growth – Paris, providing additional opportunities for liquidity to the global investment community,” CEO Denys Sournac said in a press release.
“We are excited to welcome Medicrea to the OTCQX Best Market. Trading on the OTCQX Market will give Medicrea the opportunity to increase visibility within the U.S. and grow its investor base. Historically, international companies who trade on OTCQX have both increased the number of U.S.-based investors and improved trading volume in their home market, providing a benefit for investors in the U.S. and in their domestic markets,” OTC Markets Group corporate services EVP Jason Paltrowitz said in a prepared statement.
In March, Medicrea said that it inked a joint-venture deal with Belgian distributor Motion Medical looking to accelerate adoption of its products in Belgium.