Exro Technologies applies to list on Nasdaq
by CM Staff
This follows the company's U.S. announcement at their headquarters in Arizona to further develop power electronics.
CALGARY— Exro Technologies Inc., a clean technology company that has developed a class of power electronics for electric motors and batteries, announced that it has submitted an initial application to list on The Nasdaq Stock Market LLC.
Pursuing a Nasdaq listing enables the company to attract institutional and retail investors and the opportunity to enhance shareholder value. This follows the company’s U.S. announcement at their headquarters in Arizona to further develop power electronics.
“This year, the Exro team has made significant breakthroughs in bringing new solutions for electrification to market,” said Sue Ozdemir, Chief Executive Officer of Exro, in a press release.
“Listing on the Nasdaq, the second-largest stock exchange in the world, will be an important step in growing Exro’s brand and visibility while improving shareholder value as we progress on our journey to commercialization.”
The listing of the Exro’s common shares on Nasdaq remains subject to the review and approval of the listing application and the satisfaction of all applicable listing and regulatory requirements, including approval of a registration statement to be filed by the company with the U.S. Securities and Exchange Commission.
Exro’s common shares will continue to trade on the OTCQB under the ticker symbol “EXROF” until Nasdaq approval and up-listing. Exro will continue to maintain the listing of its common shares on the Toronto Stock Exchange under the trading symbol “EXRO.”