NYSE to Commence Delisting Proceedings with Respect to the Warrants of Lion Electric (LEV.WS)
The New York Stock Exchange (NYSE) has initiated delisting proceedings for Lion Electric's warrants (LEV.WS) expiring May 6, 2026, citing 'abnormally low selling price' levels. Trading of these warrants has been immediately suspended. The company's common shares (LEV) and another series of warrants expiring December 15, 2027 (LEV.WS.A) will continue trading on the NYSE. Lion Electric is considering appealing this decision through a NYSE Board Committee review. The NYSE will apply to the SEC for warrant delisting after completing all procedures.
La Borsa di New York (NYSE) ha avviato le procedure di esclusione per i warrant di Lion Electric (LEV.WS) in scadenza il 6 maggio 2026, citando livelli di 'prezzo di vendita anormalmente basso'. Il trading di questi warrant è stato immediatamente sospeso. Le azioni comuni della società (LEV) e un'altra serie di warrant in scadenza il 15 dicembre 2027 (LEV.WS.A) continueranno a essere quotate sulla NYSE. Lion Electric sta considerando di fare appello a questa decisione tramite una revisione da parte di un comitato del Consiglio della NYSE. La NYSE presenterà una richiesta alla SEC per l'esclusione dei warrant dopo aver completato tutte le procedure.
La Bolsa de Nueva York (NYSE) ha iniciado procedimientos de deslistado para los warrants de Lion Electric (LEV.WS) que vencen el 6 de mayo de 2026, citando niveles de 'precio de venta anormalmente bajo'. La negociación de estos warrants ha sido suspendida de inmediato. Las acciones ordinarias de la empresa (LEV) y otra serie de warrants que vencen el 15 de diciembre de 2027 (LEV.WS.A) continuarán cotizando en la NYSE. Lion Electric está considerando apelar esta decisión a través de una revisión del Comité del Consejo de la NYSE. La NYSE solicitará a la SEC el deslistado de los warrants después de completar todos los procedimientos.
뉴욕 증권거래소(NYSE)는 2026년 5월 6일 만료되는 라이온 일렉트릭의 워런트(LEV.WS)에 대해 '비정상적으로 낮은 판매 가격'을 이유로 상장폐지 절차를 시작했습니다. 이 워런트의 거래는 즉시 중단되었습니다. 회사의 보통주(LEV)와 2027년 12월 15일 만료되는 또 다른 시리즈의 워런트(LEV.WS.A)는 NYSE에서 계속 거래됩니다. 라이온 일렉트릭은 이 결정을 NYSE 이사회 위원회 검토를 통해 항소하는 것을 고려하고 있습니다. NYSE는 모든 절차를 완료한 후 SEC에 워런트 상장폐지를 신청할 것입니다.
La Bourse de New York (NYSE) a engagé une procédure de désinscription pour les warrants de Lion Electric (LEV.WS) arrivant à échéance le 6 mai 2026, invoquant des niveaux de 'prix de vente anormalement bas'. Le trading de ces warrants a été immédiatement suspendu. Les actions ordinaires de la société (LEV) et une autre série de warrants arrivant à échéance le 15 décembre 2027 (LEV.WS.A) continueront à être échangées sur le NYSE. Lion Electric envisage de faire appel de cette décision par le biais d'un examen par un Comité du Conseil de la NYSE. La NYSE demandera à la SEC de procéder à la désinscription des warrants après avoir terminé toutes les procédures.
Die New Yorker Börse (NYSE) hat das Delisting-Verfahren für die Warrants von Lion Electric (LEV.WS), die am 6. Mai 2026 auslaufen, eingeleitet und dabei 'einen abnormal niedrigen Verkaufspreis' angeführt. Der Handel mit diesen Warrants wurde sofort ausgesetzt. Die Stammaktien des Unternehmens (LEV) und eine andere Serie von Warrants, die am 15. Dezember 2027 auslaufen (LEV.WS.A), werden weiterhin an der NYSE gehandelt. Lion Electric erwägt, gegen diese Entscheidung durch eine Überprüfung des NYSE-Vorstandsausschusses Berufung einzulegen. Die NYSE wird nach Abschluss aller Verfahren bei der SEC einen Antrag auf Delisting der Warrants stellen.
- None.
- NYSE initiated delisting proceedings for LEV.WS warrants
- Immediate suspension of warrant trading
- Warrants deemed unsuitable for listing due to abnormally low price
Insights
The NYSE's decision to delist Lion Electric's warrants (LEV.WS) due to "abnormally low selling price" is a concerning development that reflects significant market deterioration in the company's warrant valuations. This action affects only one series of warrants expiring in May 2026, while the common shares and December 2027 warrants remain listed.
The delisting process signals severe warrant devaluation and could impact investor confidence, though the primary stock listing remains secure. Warrant holders may face reduced liquidity and trading difficulties once delisting occurs, potentially forcing sales at disadvantageous prices. This situation typically indicates the market views these warrants as having minimal probability of reaching their strike price before expiration.
While this doesn't directly affect Lion's operations or primary stock, it's a negative signal about market sentiment regarding the company's medium-term prospects and potential share price appreciation.
NYSE Regulation has determined that the warrants are no longer suitable for listing based on "abnormally low selling price" levels, pursuant to Section 802.01D of the NYSE Listed Company Manual.
The Company is considering whether it will require a review of this determination by a Committee of the Board of Directors of the NYSE. The NYSE will apply to the Securities and Exchange Commission to delist the warrants upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"), including statements about Lion's beliefs and expectations and other statements that are not statements of historical facts. Forward-looking statements may be identified by the use of words such as "believe," "may," "will," "continue," "anticipate," "intend," "expect," "should," "would," "could," "plan," "project," "potential," "seem," "seek," "future," "target" or other similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements may contain such identifying words. The forward-looking statements contained in this press release are based on a number of estimates and assumptions that Lion believes are reasonable when made. Such estimates and assumptions are made by Lion in light of the experience of management and their perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. For additional information on estimates, assumptions, risks and uncertainties underlying certain of the forward-looking statements made in this press release, please consult section 23.0 entitled "Risk Factors" of the Company's annual management's discussion and analysis of financial condition and results of operations (MD&A) for the fiscal year 2023 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission, including the Company's interim MD&As. Many of these risks are beyond Lion's management's ability to control or predict. All forward-looking statements attributable to Lion or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained and risk factors identified in the Company's annual MD&A for the fiscal year 2023 and in other documents filed with the applicable Canadian regulatory securities authorities and the Securities and Exchange Commission. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Except as required under applicable securities laws, Lion undertakes no obligation, and expressly disclaims any duty, to update, revise or review any forward-looking information, whether as a result of new information, future events or otherwise.
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SOURCE The Lion Electric Co.
FAQ
Why is NYSE delisting Lion Electric's LEV.WS warrants?
Will Lion Electric's common shares (LEV) continue trading on NYSE?
When was trading suspended for Lion Electric's LEV.WS warrants?
What options does Lion Electric have regarding the warrant delisting?
