Acuren Corporation Announces Commencement of Trading on the OTCQX Market

Rhea-AI Summary

Acuren (OTCQX: TICA) has announced the commencement of its common stock trading on the OTCQX Market under the symbol 'TICA'. The company has achieved DTC Eligibility, allowing for broader investor access and enhanced trading capabilities. The company's common stock has received a new CUSIP number (00510N102) and ISIN (US00510N1028), following its domestication on December 16, 2024.

CEO Talman Pizzey highlighted this as a strategic move to increase share accessibility and build a leading position in testing, inspection, certification, and compliance services. The company reports strong year-to-date results and a robust balance sheet.

Positive

• Uplisting to OTCQX Market provides increased visibility and accessibility to investors
• DTC eligibility achieved, improving trading efficiency and accessibility
• Management reports strong year-to-date results and robust balance sheet

Negative

• None.

Insights

Financial Markets Expert

The uplisting to OTCQX represents a strategic enhancement in market accessibility for Acuren The OTCQX is the highest tier of OTC Markets, requiring stricter financial standards and transparency compared to other OTC tiers. This transition brings several key advantages: enhanced trading liquidity, broader institutional investor access and improved market visibility.

The DTC eligibility is particularly significant as it allows for electronic clearing and settlement through DTCC, streamlining the trading process and potentially increasing trading volume. The conversion from CREST to DTC systems indicates a strategic pivot towards the U.S. market, which could expand the investor base significantly. For existing shareholders, the new CUSIP number (00510N102) and ISIN (US00510N1028) modifications reflect the company's domestication process completed on December 16, 2024.

While this market transition doesn't directly impact the company's fundamental operations, it positions Acuren for potential increased institutional investment and improved stock liquidity. Think of this as upgrading from a local road to a highway - same destination, but with better access and visibility.

TOMBALL, Texas--(BUSINESS WIRE)-- Acuren Corporation (the “Company” or “Acuren”) (OTCQX: TICA) announces that, effective as of today, its common stock has qualified to trade on the OTCQX Market under the symbol “TICA”. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

"We are pleased to begin trading on the OTCQX Market, which marks an important step in increasing access to our shares to a wider range of investors," said Talman Pizzey, CEO of Acuren Corporation. "This milestone advances our strategy to build a world-leading testing, inspection, certification and compliance organization while enabling shareholders to participate in our long-term value creation. With our strong year-to-date results and robust balance sheet, we look forward to continue building on our success with broadened reach and awareness of the Acuren growth story."

Additional Information for Existing Holders of Acuren Common Stock

The new CUSIP number for the Company’s common stock is 00510N102. The Company’s common stock (which converted from ordinary shares upon the Company’s domestication on December 16, 2024) is now eligible for movement into participant accounts at the Depository Trust & Clearing Corporation (“DTC”) (“DTC Eligibility”). The Company’s fomer ordinary share ISIN of VGG0093S1092 has been disabled and the new common stock ISIN US00510N1028 is now active. Holders of the Company’s common stock currently held as depositary interests through the CREST system operated by Euroclear UK & International Limited (“CREST”) may now transfer such common stock from a CREST participant account in the UK, to a DTC participant account in the US by contacting their broker or other custodian to confirm the DTC Eligibility and requesting a movement of their position from a CREST participant account into a DTC participant account.

CREST participants may contact the Global Transactions team at Computershare, the Company’s agent, by e-mail at uk.globaltransactions@computershare.com with any questions regarding transfers of depositary interests out of CREST and into DTC.

Registered holders of the Company’s common stock should receive a Direct Registration System (DRS) statement advice evidencing the new CUSIP and DTC status and may request that their broker transfer the shares via the DRS profile process. Computershare may be contacted at web.queries@computershare.com or 1-866-644-4127 US, Canada, Puerto Rico/1-781-575-2906 non-US.

Warrants issued by the Company are expected to be subject to a change in ISIN from VGG0093S1175 to US00510N1101, but at this time, the Company’s warrants are not eligible for entry into DTC.

About Acuren:

Acuren is a leading provider of critical asset integrity services. The company operates primarily in North America serving a broad range of industrial markets. It provides these essential and often compliance-mandated (often at customer locations) services in the industrial space and is focused on the recuring maintenance needs of its customers. The work Acuren does fits in the service category referred to as Testing, Inspection and Certification (TIC) including Nondestructive Testing (NDT) in the field and the laboratory and in-lab destructive testing capabilities. More information can be found at https://www.acuren.com/.

Forward-Looking Statements and Disclaimers:

This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company.

This press release contains forward-looking statements which are based on the Company’s expectations, intentions and projections regarding the eligibility of the Company’s warrants to move to DTC. Prospective investors are cautioned not to place undue reliance on forward-looking statements, given certain risks and uncertainties, including that the warrants may not become DTC eligible. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241230159105/en/

Investor Relations Inquiries:

Dan Scott / Rodny Nacier

ICR Inc.

IR@acuren.com

Seth Weber

VP Investor Relations

Seth.weber@acuren.com

Source: Acuren Corporation

FAQ

What does Acuren's (TICA) uplisting to OTCQX mean for investors?

The uplisting to OTCQX provides increased visibility and accessibility for investors, with improved trading capabilities through DTC eligibility and real-time Level 2 quotes availability.

What is the new CUSIP number for Acuren (TICA) common stock?

The new CUSIP number for Acuren's common stock is 00510N102, with a new ISIN of US00510N1028.

When did Acuren (TICA) complete its domestication process?

Acuren completed its domestication process on December 16, 2024, converting its ordinary shares to common stock.

How can existing CREST shareholders transfer their Acuren (TICA) shares to DTC?

CREST shareholders can transfer their shares by contacting their broker to request movement from their CREST participant account to a DTC participant account, confirming DTC eligibility first.