Hyzon Motors Announces Delisting from Nasdaq and Expected SEC Deregistration.

Hyzon Motors Inc. announced the delisting of its Class A common stock and warrants from the Nasdaq Capital Market. The removal will be effective after filing a Form 25 with the SEC and Nasdaq. Following delisting, the company expects its shares to be traded on the OTC Markets Group Inc. The board of directors has also determined to deregister the company with the SEC, citing significant costs associated with periodic reports and regulatory compliance.

Hyzon Motors Inc. (HYZN), a leading hydrogen fuel cell vehicle manufacturer, recently announced its intention to delist from the Nasdaq Capital Market [1]. The removal will become effective after filing a Form 25 with the Securities and Exchange Commission (SEC) and Nasdaq. Following the delisting, the company anticipates that its shares will be traded on the OTC Markets Group Inc.

The decision to delist comes amidst significant costs associated with periodic reports and regulatory compliance. In a press release, Hyzon's board of directors cited these expenses as the primary reasons for the delisting [2]. This trend is not uncommon, as smaller companies often face challenges in maintaining the financial resources required to meet the ongoing obligations of being listed on a major exchange.

According to a report by Nasdaq, an issue will remain on the list of pending suspension or delisting issuers until the first business day after the issue is delisted [1]. As of now, Hyzon's shares are still listed on the Nasdaq Capital Market, but this will change once the Form 25 is filed and the delisting becomes effective.

The delisting of Hyzon Motors from the Nasdaq Capital Market marks a significant shift for the company. While the move may result in lower costs and fewer regulatory obligations, it also raises questions about the company's future prospects and its ability to attract investors. As the hydrogen fuel cell market continues to evolve, Hyzon will need to adapt to this new environment and find ways to maintain its competitive edge.

References:
[1] Nasdaq. Issuers Pending Suspension or Delisting. https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
[2] Hyzon Motors Inc. Press Release. Hyzon Motors Announces Delisting of Class A Common Stock and Warrants from Nasdaq Capital Market and Expects to Continue Trading on the OTC Markets. https://www.hyzonmotors.com/news/press-releases/detail/2023/hyzon-motors-announces-delisting-of-class-a-common-stock-and-warrants-from-nasdaq-capital-market-and-expects-to-continue-trading-on-the-otc-markets