Hyzon Motors Inc. (NASDAQ:HYZN), a manufacturer specializing in electrical industrial apparatus, is set to be delisted from the Nasdaq Stock Market, as announced on Thursday. The company received a determination letter from Nasdaq stating that trading of its Class A common stock and public warrants would be suspended from the opening of business on Monday, January 30, 2025.
The delisting is a consequence of Hyzon Motors' proposed Plan of Dissolution, which is subject to stockholder approval at a Special Meeting scheduled for February 13, 2025. Nasdaq cited public interest concerns related to the company's dissolution plan as a factor in their decision.
Despite the option for Hyzon Motors to appeal the determination, Nasdaq will proceed with the suspension of trading and will file a Form 25-NSE with the Securities and Exchange Commission to formally remove the company's securities from listing and registration on the exchange.
This development follows several corporate transitions for Hyzon Motors, which previously operated under names including Decarbonization Plus Acquisition Corp and Silver Run Acquisition Corp (NYSE:PR) III. The company, headquartered in Bolingbrook, IL, has not indicated whether it will appeal the delisting decision.
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