Voxeljet AG Accelerates Strategic Realignment And Announces Plan To Voluntarily Delist Its ADSs From NASDAQ And Deregister Its ADS
Portfolio Pulse from Benzinga Newsdesk
Voxeljet AG (VJET) announced plans to voluntarily delist its ADSs from NASDAQ and deregister its ADS with the SEC to reduce expenses and strengthen its financial position. The company believes the costs and management demands of NASDAQ listing and SEC compliance do not justify the benefits. The delisting process will start with a Form 25 filing around March 22, 2024, followed by a Form 15 filing to deregister from the Exchange Act, with deregistration expected around April 1, 2024.
March 12, 2024 | 8:18 pm
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Voxeljet AG plans to delist from NASDAQ and deregister its ADS with the SEC to reduce costs and improve financial health, expecting to complete the process by April 1, 2024.
The decision to delist and deregister is likely to have a negative short-term impact on VJET's stock price due to potential investor concerns over transparency and liquidity. The move indicates a strategic shift to reduce costs, but it may also signal financial distress or a desire to operate with less regulatory scrutiny, which could lead to decreased investor confidence.
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