Friedman Industries, Incorporated Announces Transfer to Nasdaq
Friedman Industries (FRD), a leading steel products manufacturer and processor, has announced its decision to transfer its common stock listing from NYSE American to the Nasdaq Global Select Market. The transition will take effect on April 8, 2025, with the company retaining its symbol 'FRD'. Trading on NYSE American will continue until market close on April 7, 2025.
According to CEO Michael Taylor, this strategic move aims to enhance market visibility and attract increased investor capital. The company expects the Nasdaq listing to potentially improve trading liquidity and expand institutional ownership while supporting Friedman's objective of building long-term equity value.
Friedman Industries (FRD), un importante produttore e processore di prodotti in acciaio, ha annunciato la sua decisione di trasferire la quotazione delle sue azioni ordinarie da NYSE American al Nasdaq Global Select Market. La transizione avrà effetto il 8 aprile 2025, con la società che manterrà il suo simbolo 'FRD'. Le negoziazioni su NYSE American continueranno fino alla chiusura del mercato il 7 aprile 2025.
Secondo il CEO Michael Taylor, questa mossa strategica mira a migliorare la visibilità sul mercato e attrarre un maggiore capitale da parte degli investitori. L'azienda si aspetta che la quotazione al Nasdaq possa potenzialmente migliorare la liquidità delle negoziazioni ed espandere la proprietà istituzionale, supportando l'obiettivo di Friedman di costruire un valore azionario a lungo termine.
Friedman Industries (FRD), un importante fabricante y procesador de productos de acero, ha anunciado su decisión de transferir su cotización de acciones ordinarias de NYSE American al Nasdaq Global Select Market. La transición entrará en vigor el 8 de abril de 2025, manteniendo la compañía su símbolo 'FRD'. Las operaciones en NYSE American continuarán hasta el cierre del mercado el 7 de abril de 2025.
Según el CEO Michael Taylor, este movimiento estratégico tiene como objetivo mejorar la visibilidad en el mercado y atraer un mayor capital de los inversores. La empresa espera que la cotización en Nasdaq pueda mejorar potencialmente la liquidez de las operaciones y expandir la propiedad institucional, apoyando el objetivo de Friedman de construir un valor patrimonial a largo plazo.
프리드먼 산업(FRD), 선도적인 강철 제품 제조업체이자 가공업체,는 일반 주식 상장을 NYSE American에서 나스닥 글로벌 선택 시장으로 이전하기로 결정했다고 발표했습니다. 이 전환은 2025년 4월 8일에 시행되며, 회사는 'FRD'라는 기호를 유지합니다. NYSE American에서의 거래는 2025년 4월 7일 시장 마감까지 계속됩니다.
CEO 마이클 테일러에 따르면, 이 전략적 움직임은 시장 가시성을 높이고 투자자 자본을 증가시키기 위한 것입니다. 회사는 나스닥 상장이 거래 유동성을 개선하고 기관 소유를 확대할 수 있을 것으로 기대하며, 프리드먼의 장기 자본 가치를 구축하는 목표를 지원할 것입니다.
Friedman Industries (FRD), un fabricant et transformateur de produits en acier de premier plan, a annoncé sa décision de transférer la cotation de ses actions ordinaires de NYSE American au Nasdaq Global Select Market. La transition prendra effet le 8 avril 2025, l'entreprise conservant son symbole 'FRD'. Les échanges sur NYSE American se poursuivront jusqu'à la fermeture du marché le 7 avril 2025.
Selon le PDG Michael Taylor, ce mouvement stratégique vise à améliorer la visibilité sur le marché et à attirer un capital d'investisseurs accru. L'entreprise s'attend à ce que la cotation sur le Nasdaq puisse potentiellement améliorer la liquidité des échanges et élargir la propriété institutionnelle, tout en soutenant l'objectif de Friedman de construire une valeur d'équité à long terme.
Friedman Industries (FRD), ein führender Hersteller und Verarbeiter von Stahlprodukten, hat bekannt gegeben, dass es seine Notierung von NYSE American auf den Nasdaq Global Select Market verlagern wird. Der Übergang tritt am 8. April 2025 in Kraft, wobei das Unternehmen sein Symbol 'FRD' beibehält. Der Handel an der NYSE American wird bis zum Marktabschluss am 7. April 2025 fortgesetzt.
Laut CEO Michael Taylor zielt dieser strategische Schritt darauf ab, die Marktpräsenz zu erhöhen und mehr Investorengelder anzuziehen. Das Unternehmen erwartet, dass die Nasdaq-Notierung die Handelsliquidität potenziell verbessern und den institutionellen Besitz erweitern wird, während sie Friedmans Ziel unterstützt, langfristigen Eigenkapitalwert aufzubauen.
- Transfer to Nasdaq Global Select Market may enhance trading liquidity
- Potential for increased institutional ownership and capital inflows
- Strategic move to improve market visibility
- None.
- Nasdaq trading commences on April 8, 2025
- Improves Friedman’s visibility in the capital markets
- Increases potential for improved trading liquidity and diversified share ownership
LONGVIEW, Texas, March 27, 2025 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE American: FRD), a leading manufacturer and processor of steel products, announced today it will transfer its common stock listing to the Nasdaq Global Select Market (“Nasdaq”) and commence trading effective April 8, 2025, under the symbol “FRD”. The Company’s common stock will continue to trade on the NYSE American through market close on April 7, 2025.
“As we grow, we want to increase our market visibility and attract more investor capital” said Michael Taylor, President and Chief Executive Officer. “We believe that Nasdaq provides more potential for improved trading liquidity, as well as increased institutional ownership and capital inflows. Listing on Nasdaq aligns with our goal of building Friedman’s long-term equity value.”
LINK TO OUR LATEST INVESTOR PRESENTATION, available at www.friedmanindustries.com/investor-presentation
About Friedman Industries
Friedman Industries, Incorporated (“Company”), headquartered in Longview, Texas, is a manufacturer and processor of steel products with operating plants in Hickman, Arkansas; Decatur, Alabama; East Chicago, Indiana; Granite City, Illinois; Sinton, Texas and Lone Star, Texas. The Company has two reportable segments: flat-roll products and tubular products. The flat-roll product segment consists of the operations in Hickman, Decatur, East Chicago, Granite City and Sinton where the Company processes hot-rolled steel coils. The Hickman, East Chicago and Granite City facilities operate temper mills and corrective leveling cut-to-length lines. The Sinton and Decatur facilities operate stretcher leveler cut-to-length lines. The tubular product segment consists of the operations in Lone Star where the Company manufactures electric resistance welded pipe and distributes pipe through its Texas Tubular Products division.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and such statements involve risk and uncertainty. Forward-looking statements include those preceded by, followed by or including the words “will,” “expect,” “intended,” “anticipated,” “believe,” “project,” “forecast,” “propose,” “plan,” “estimate,” “enable,” and similar expressions, including, for example, statements about our business strategy, our industry, our future profitability, growth in the industry sectors we serve, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions, future production capacity and product quality. Forward-looking statements may be made by management orally or in writing including, but not limited to, this news release.
Forward-looking statements are not guarantees of future performance. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although forward-looking statements reflect our current beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements.
Actual results and trends in the future may differ materially depending on a variety of factors including, but not limited to, changes in the demand for and prices of the Company’s products, changes in government policy regarding steel, changes in the demand for steel and steel products in general and the Company’s success in executing its internal operating plans, changes in and availability of raw materials, our ability to satisfy our take or pay obligations under certain supply agreements, unplanned shutdowns of our production facilities due to equipment failures or other issues, increased competition from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements. Accordingly, undue reliance should not be placed on our forward-looking statements. Such risks and uncertainty are also addressed in our Management’s Discussion and Analysis of Financial Condition and Results of Operations and other sections of the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including the Company’s Annual Report on Form 10-K and its other Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent law requires.
For further information, contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903)758-3431.
FAQ
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