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Hyzon Motors to appeal Nasdaq listing determination
The Fly

Hyzon Motors to appeal Nasdaq listing determination

Hyzon Motors received a Staff Determination from the Listing Qualifications Staff of The Nasdaq Stock Market on February 3 notifying the company that, unless the company requests an appeal, trading of the company’s Class A common stock and warrants will be suspended at the opening of business on February 14, and remove the company’s securities from listing and registration on Nasdaq. By February 10, the company plans to appeal the Staff Determination and request a hearing before the Nasdaq Hearings Panel. A request for a hearing regarding a delinquent filing automatically stays the delisting process of the company’s securities for a period of 15 days from the date of the request. However, the company intends to request a stay of the suspension of its securities pending the hearing which is typically scheduled to occur approximately 30-45 days after the date of the hearing request. The Staff Determination was issued because the company informed Nasdaq that it will not file its Quarterly Reports for the periods ended June 30, 2022 and September 30, 2022 on or before February 13. There can be no assurance that such reports will be filed before any hearing before the Hearings Panel, or that the Hearings Panel will grant the company’s request for a stay pending the hearing. If the company’s appeal to the Hearings Panel is denied, the company’s securities will be subject to delisting on Nasdaq.

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