Voxeljet has announced it will voluntarily delist from the Nasdaq stock exchange.
The company will also terminate the registration of its ADSs with the US Securities and Exchange Commission (SEC).
Voxeljet has made the decision to delist from the stock exchange to reduce expenses and thereby to further strengthen its financial position.
In a press release distributed on March 12th, Voxeljet said it had 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. As a result, the company intends to start the process of delisting the company’s shares from the Nasdaq stock exchange before ‘promptly’ initiating the process for suspending its reporting obligations under the Securities Exchange Act of 1934.
Voxeljet will therefore 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.
In September 2023, Voxeljet announced that its management and supervisory board had initiated a formal review process to evaluate strategic alternatives for the company. Those alternatives were said to include, but not be limited to, investments, mergers and acquisitions, and joint ventures, strategic partnerships, or other transactions. It is not clear, at this stage, whether Voxeljet continues to explore these strategic alternatives after it delists.
