HYZON ANNOUNCES DELISTING FROM NASDAQ AND EXPECTED SEC DEREGISTRATION
Hyzon Motors, a hydrogen fuel cell system manufacturer, announced its intention to delist from the Nasdaq Stock Market. The company plans to file Form 25 with the SEC around March 4, 2025, with the delisting becoming effective 10 days later. Following delisting, Hyzon expects its Common Stock to trade on the OTC Markets, though this is not guaranteed.
The company's Board of Directors has also decided to deregister with the SEC, citing the significant costs associated with SEC reporting requirements and compliance with Sarbanes-Oxley Act regulations. This decision follows a January 23, 2025 determination letter from Nasdaq announcing the delisting of Hyzon's Common Stock and Warrants, which were suspended from trading on January 30, 2025.
The delisting decision was based on Hyzon's previously announced Plan of Dissolution, which awaits stockholder approval at a Special Meeting scheduled for February 27, 2025.
Hyzon Motors, un produttore di sistemi a celle a idrogeno, ha annunciato la sua intenzione di ritirarsi dal mercato azionario Nasdaq. L'azienda prevede di presentare il Modulo 25 alla SEC intorno al 4 marzo 2025, con il ritiro che diventerà effettivo 10 giorni dopo. Dopo il ritiro, Hyzon si aspetta che le sue azioni ordinarie vengano scambiate nei mercati OTC, anche se ciò non è garantito.
Il Consiglio di Amministrazione dell'azienda ha anche deciso di disregistrarsi presso la SEC, citando i costi significativi associati ai requisiti di reporting della SEC e alla conformità con le normative del Sarbanes-Oxley Act. Questa decisione segue una lettera di determinazione del 23 gennaio 2025 da parte di Nasdaq che annunciava il ritiro delle azioni ordinarie e dei Warrant di Hyzon, che sono stati sospesi dalla negoziazione il 30 gennaio 2025.
La decisione di ritirarsi è stata basata sul Piano di Liquidazione precedentemente annunciato da Hyzon, che attende l'approvazione degli azionisti in una Riunione Straordinaria programmata per il 27 febbraio 2025.
Hyzon Motors, un fabricante de sistemas de celdas de hidrógeno, anunció su intención de salir de la Bolsa de Valores Nasdaq. La empresa planea presentar el Formulario 25 ante la SEC alrededor del 4 de marzo de 2025, con la salida efectiva 10 días después. Tras la salida, Hyzon espera que sus acciones ordinarias se negocien en los Mercados OTC, aunque esto no está garantizado.
La Junta Directiva de la empresa también ha decidido desregistrarse ante la SEC, citando los costos significativos asociados con los requisitos de informes de la SEC y el cumplimiento de las regulaciones de la Ley Sarbanes-Oxley. Esta decisión sigue a una carta de determinación del 23 de enero de 2025 de Nasdaq anunciando la salida de las acciones ordinarias y los Warrant de Hyzon, que fueron suspendidos de negociación el 30 de enero de 2025.
La decisión de salida se basó en el Plan de Disolución previamente anunciado por Hyzon, que espera la aprobación de los accionistas en una Reunión Especial programada para el 27 de febrero de 2025.
하이존 모터스(Hyzon Motors)는 수소 연료 전지 시스템 제조업체로서 나스닥 증권거래소에서 상장 폐지할 의사를 발표했습니다. 이 회사는 2025년 3월 4일경 SEC에 양식 25를 제출할 계획이며, 상장 폐지는 10일 후에 효력이 발생합니다. 상장 폐지 후 하이존은 자사의 보통주가 OTC 마켓에서 거래되기를 기대하고 있지만, 이는 보장되지 않습니다.
회사의 이사회는 또한 SEC에 등록 해지를 결정했으며, 이는 SEC 보고 요구 사항 및 사바네스-옥슬리법 준수와 관련된 상당한 비용을 이유로 들었습니다. 이 결정은 2025년 1월 23일 나스닥에서 하이존의 보통주 및 워런트의 상장 폐지를 발표한 결정 통지서에 따른 것입니다. 이들은 2025년 1월 30일에 거래가 중단되었습니다.
상장 폐지 결정은 하이존이 이전에 발표한 청산 계획에 기반하며, 이는 2025년 2월 27일로 예정된 특별 회의에서 주주 승인을 기다리고 있습니다.
Hyzon Motors, un fabricant de systèmes de piles à hydrogène, a annoncé son intention de se retirer du marché boursier Nasdaq. L'entreprise prévoit de déposer le formulaire 25 auprès de la SEC autour du 4 mars 2025, le retrait devenant effectif 10 jours plus tard. Suite au retrait, Hyzon s'attend à ce que ses actions ordinaires se négocient sur les marchés OTC, bien que cela ne soit pas garanti.
Le conseil d'administration de l'entreprise a également décidé de se désinscrire auprès de la SEC, invoquant les coûts importants associés aux exigences de reporting de la SEC et à la conformité avec les règlements de la loi Sarbanes-Oxley. Cette décision fait suite à une lettre de détermination de Nasdaq datée du 23 janvier 2025 annonçant le retrait des actions ordinaires et des warrants de Hyzon, qui ont été suspendus de négociation le 30 janvier 2025.
La décision de retrait était basée sur le plan de dissolution précédemment annoncé par Hyzon, qui attend l'approbation des actionnaires lors d'une assemblée générale extraordinaire prévue pour le 27 février 2025.
Hyzon Motors, ein Hersteller von Wasserstoff-Brennstoffzellensystemen, hat seine Absicht bekannt gegeben, von der Nasdaq-Börse zurückzutreten. Das Unternehmen plant, am 4. März 2025 das Formular 25 bei der SEC einzureichen, wobei der Rückzug 10 Tage später wirksam wird. Nach dem Rückzug erwartet Hyzon, dass seine Stammaktien an den OTC-Märkten gehandelt werden, obwohl dies nicht garantiert ist.
Der Vorstand des Unternehmens hat außerdem beschlossen, sich bei der SEC abzumelden, da die erheblichen Kosten im Zusammenhang mit den SEC-Berichtspflichten und der Einhaltung der Vorschriften des Sarbanes-Oxley-Gesetzes angeführt wurden. Diese Entscheidung folgt einem Mitteilungsbrief von Nasdaq vom 23. Januar 2025, der die Abmeldung von Hyzons Stammaktien und Warrants ankündigte, die am 30. Januar 2025 vom Handel ausgesetzt wurden.
Die Entscheidung zur Abmeldung basierte auf dem zuvor angekündigten Liquidationsplan von Hyzon, der auf die Genehmigung der Aktionäre in einer für den 27. Februar 2025 angesetzten außerordentlichen Sitzung wartet.
- None.
- Company to be delisted from Nasdaq
- Trading of common stock and warrants suspended since January 30, 2025
- Pending Plan of Dissolution awaiting shareholder approval
- Uncertainty about future trading on OTC Markets
- Loss of major exchange listing status and reduced visibility to investors
Insights
The announced delisting from Nasdaq and planned SEC deregistration marks a critical turning point for Hyzon Motors, carrying severe implications for shareholders and the broader hydrogen fuel cell industry. This development is particularly significant as it comes alongside a pending Plan of Dissolution, suggesting a complete unwinding of the business rather than a typical delisting scenario.
The transition from Nasdaq to OTC markets represents a substantial degradation in shareholder position through multiple mechanisms:
- Reduced liquidity and wider bid-ask spreads typically follow such transitions, making it more difficult for investors to enter or exit positions
- Diminished institutional investor participation due to mandate restrictions against holding OTC securities
- access to capital markets for future funding needs
- Reduced financial transparency and reporting requirements following SEC deregistration
The warrant situation is particularly telling - with an exercise price of
The Board's justification of cost savings from reduced SEC compliance requirements appears to be a secondary consideration given the context of the dissolution plans. This sequence of events - trading suspension, delisting, deregistration, and planned dissolution - follows a pattern typical of companies preparing for a complete wind-down of operations rather than a strategic repositioning.
For the broader hydrogen fuel cell industry, this development may have ripple effects, potentially impacting investor confidence in early-stage clean energy companies and highlighting the challenges of scaling hydrogen technology in the current market environment. The situation serves as a cautionary tale about the risks inherent in emerging clean energy technologies, even with strong initial market enthusiasm.
Following the delisting, the Company expects that the Common Stock will be traded on a market operated by the OTC Markets Group Inc. (the "OTC"). No assurances can be provided, however, that trading of the Common Stock on the OTC will occur.
In view of the Nasdaq's delisting of the Company's Common Stock and Warrants, the Company's Board of Directors ("Board") has undertaken a determination to deregister the Company with the SEC, having determined that both the delisting and deregistration are in the best interests of the Company and the holders of its Common Stock and Warrants.
The Board's decision was based on careful review of numerous factors, including the potential for limiting the significant costs associated with preparing and filing periodic reports with the SEC and the legal, audit and other expenses associated with being a reporting company, as well as the substantial costs and demands on management's time under the Sarbanes-Oxley Act of 2002, SEC rules and Nasdaq listing standards.
On January 23, 2025, the Company received a determination letter (the "Delisting Notification") from Nasdaq stating that the Nasdaq staff ("Staff") determined, in accordance with Listing Rules 5101 and 5110(b) and Nasdaq Listing Rule IM 5101-1, that the Common Stock and Warrants, will be delisted from Nasdaq. The Delisting Notification indicated that the Staff's determination was based on, among other items, the Company's previously announced Plan of Dissolution to which the Company is asking its stockholders to approve at a Special Meeting of Stockholders, which is to be reconvened after it was adjourned, to be held on February 27, 2025 at 9:00 A.M. Eastern Time and associated public interest concerns raised by such request. Per the Delisting Notification, the Company's securities were suspended from trading on Nasdaq at the opening of business on January 30, 2025.
About Hyzon
Hyzon is a supplier of high-performance hydrogen fuel cell technology focused on providing zero-emission power to decarbonize demanding industries. Hyzon is focusing on deploying its fuel cell technology in heavy-duty commercial vehicles in Class 8 and refuse collection vehicles across
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute forward-looking statements. The words "expect," "intend," "continue," "potential," "may," "will" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include, but are not limited to, statements concerning the Company's plans with respect to the delisting and deregistration of its Common Stock and Warrants; the perceived benefits and timing of the delisting and deregistration; and the trading of the Common Stock. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the risk that the delisting and deregistration process will take longer than expected and that the benefits of such actions may not be realized; the impact of changing laws and regulations and those risks and uncertainties described in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and its subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Readers should not rely upon this information as current or accurate after its publication date.
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SOURCE Hyzon Motors Inc.
FAQ
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