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- NOVONIX (NVX), a battery materials and technology firm, announced today that the process for listing its securities on the Nasdaq exchange has commenced
- As previously revealed in May 2021, NOVONIX has been exploring a secondary sale of its securities on Nasdaq
- Under the program, NOVONIX expects to begin trading on Nasdaq under the ticker symbol “NVX”
- “This listing furthers our long-term goal of reshoring the EV supply chain in North America and becoming a leader in the electrification economy,” says CEO Chris Burns
- NVX last traded at $9.35 on January 7
Battery materials and technology company, NOVONIX (NVX) today announced that the process to list its securities on the Nasdaq exchange has begun.
NOVONIX has been considering a secondary offering of its securities on Nasdaq, as disclosed in May 2021. NOVONIX has filed a registration statement, Form 20-F, with the Securities and Exchange Commission (SEC) in the first step of the process.
The listing in the United States is scheduled to take place when the SEC and Nasdaq have finished their evaluation processes and the registration statement has become valid.
The securities will be issued via a Level II American Depository Receipt (ADR) scheme, supplementing the current primary listing of NVX shares on the ASX. An ADR is a negotiable receipt, similar to a stock certificate, issued by a United States depositary bank to represent one or more American Depositary Shares.
The Bank of New York Mellon will be appointed by the company to create the Level II ADR Program and to serve as the ADR depositary, custodian, and registrar.
The program is part of an ongoing plan to broaden NOVONIX’s accessibility to US investors and make the company’s securities potentially eligible as a direct investment for North American institutions and fund managers.
Under the program, NOVONIX expects to begin trading on the Nasdaq under the ticker symbol “NVX”.
“We believe NOVONIX was the first qualified supplier of high-capacity long-life synthetic graphite anode material to a major cell maker and is the only supplier with plans to provide large volumes of this key material in the U.S,” said NOVONIX CEO Chris Burns.
“Our technological breakthroughs are helping to power the energy storage market, leading to better performance, longer life and lower costs.
“This listing furthers our long-term goal of reshoring the EV supply chain in North America and becoming a leader in the electrification economy.”
NVX last traded at $9.35 on January 7.
