voxeljet AG Accelerates Strategic Realignment and Announces its Plan to (i) Voluntarily Delist its ADSs from NASDAQ and (ii) Deregister its ADSs
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- The delisting may lead to reduced visibility and liquidity for Voxeljet AG's stock, potentially impacting investor confidence and trading volume.
The decision by voxeljet AG to delist its ADSs from NASDAQ is a significant strategic move that will have various financial implications. Delisting can lead to reduced visibility in the market, potentially decreasing liquidity for existing shareholders. However, the company aims to mitigate costs associated with regulatory compliance, which can be substantial, particularly for smaller firms. This reduction in expenses could improve voxeljet AG's net income margin over time.
Investors should consider the trade-off between decreased market presence and the potential for improved financial efficiency. It's also important to note that delisting could make the stock less accessible to institutional investors, who may have policies against investing in unlisted securities, thereby possibly affecting the stock's demand and price.
From a legal perspective, the delisting and termination of registration are compliant with SEC regulations, provided that voxeljet AG follows the proper procedures, such as filing a Form 25. However, shareholders could perceive the move as a loss of transparency, given that delisted companies are not bound by the same rigorous disclosure standards as those listed on NASDAQ. This could potentially lead to a trust deficit among investors.
Moreover, the suspension of reporting obligations under the Exchange Act means that the company will no longer be required to file periodic reports like 10-Qs and 10-Ks, which could further impact investor perception and the company's corporate governance standards.
From a market research standpoint, the delisting of voxeljet AG needs to be contextualized within the broader industry trends. It's essential to assess how this move aligns with the behavior of similar companies in the 3D printing sector. If delisting becomes a trend among peers, it could signal a shift in how these companies view the cost-benefit balance of public listings. Conversely, if voxeljet's decision is an outlier, it may reflect unique internal challenges or strategic priorities.
Analyzing the company's performance post-delist will provide insights into the effectiveness of this decision. It will be crucial to monitor how the reduction in compliance costs correlates with the company's investment in innovation and market competitiveness.
FRIEDBERG,
The Company has concluded that the benefits associated with a NASDAQ listing do not justify the costs and demands on management's time necessary to comply with SEC requirements. Consequently, the Company intends to start the process to delist the Company's shares from NASDAQ. After the NASDAQ delisting becomes effective, the Company intends to promptly initiate the process for suspending its reporting obligations under the Securities Exchange Act of 1934, as amended ("Exchange Act").
The Company intends to file a Form 25 with the SEC to effect the voluntary withdrawal of the listing of its ADSs from NASDAQ on or about March 22, 2024. Following the effectiveness of the Form 25, the Company intends to file with the SEC a Form 15 to deregister the Company's ADSs under the Exchange Act after which the Company will no longer have any reporting obligations under Sections 13(a) and 15(d) of the Exchange Act, including Forms 20-F and 6-K. The Company anticipates that the deregistration of its ADSs under the Exchange Act will become effective on or about April 1, 2024.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's intention to voluntarily delist its ADSs from Nasdaq and to terminate registration of the Company's ADSs with the SEC, and any anticipated benefits of such actions. These statements are an expression of the current intentions, expectations and assumptions of voxeljet AG and made by voxeljet AG on the basis of its best knowledge, but do not constitute any statement with respect to their future accuracy. You should not place undue reliance on these statements. voxeljet AG cannot provide assurances that the matters described in this press release will be successfully completed or that voxeljet AG will realize the anticipated benefits of any transaction. Forward-looking statements are subject to risks and uncertainties, which are usually difficult to predict and ordinarily not in the domain of influence of voxeljet AG. These risks and other factors are discussed in more detail in the Company's public filings with the SEC. It should be noted that actual events or developments could materially differ from the events and developments described or included in the forward-looking statements. Statements made herein are as of the date hereof and should not be relied upon as of any subsequent date. The Company disclaims any obligation to update any forward-looking statements except as may be required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240312725527/en/
Investors and Media
Johannes Pesch
Director Business Development & Investor Relations
johannes.pesch@voxeljet.de
Office: +49 821 7483172
Source: voxeljet AG
FAQ
Why is Voxeljet AG (VJET) planning to delist its ADSs from NASDAQ?
What are the reasons cited by Voxeljet AG for delisting?
What will Voxeljet AG do after delisting from NASDAQ?
