PyroGenesis Canada Inc., Montreal, Quebec, Canada, a developer and manufacturer of plasma atomised metal powders and a supplier of plasma-based metal powder production technology, has submitted an application to list its common shares on the NASDAQ Stock Exchange. The company will reportedly continue to maintain the listing of its shares on the Toronto Stock Exchange (TSX), and would trade on both exchanges under the ticker symbol ‘PYR’.
The listing of PyroGenesis’ shares on the NASDAQ remains subject to the approval of NASDAQ and the satisfaction of all applicable listing and regulatory requirements. Based on its typical review process, this usually takes 6–8 weeks, PyroGenesis expects that its shares will be listed before the end of Q1 2021.
According to the company, there will be no concurrent financing associated with this listing nor a reverse stock split. PyroGenesis has engaged Nelson Mullins Riley & Scarborough LLP as its US legal counsel to process the listing and, in connection with its application, the company states that it will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission (SEC).
“We believe the company is entering a heightened growth phase and the timing could not be better for uplisting our shares to NASDAQ,” stated P Peter Pascali, CEO & chair of PyroGenesis. “We expect that the move to NASDAQ will increase awareness of PyroGenesis and its offerings, both within the financial community and amongst potential clients.”
“We believe this listing will also enhance trading liquidity by broadening our appeal to a larger shareholder base, in the US and internationally, as we execute our business plan and drive long-term shareholder value. We are very much looking forward to elevating the company’s profile with this listing,” he concluded.