FRIEDBERG, Germany - voxeljet AG (NASDAQ:VJET), a provider of high-speed, large-format 3D printers, has announced its intention to voluntarily delist its American Depositary Shares (ADSs) from the NASDAQ stock market and to terminate its registration with the U.S. Securities and Exchange Commission (SEC). The move is aimed at reducing costs and streamlining the company's financial resources.
The decision comes after the company evaluated the benefits of maintaining its NASDAQ listing against the associated costs and management time required to comply with SEC regulations. voxeljet AG has determined that the costs outweigh the advantages and has therefore opted to initiate the delisting process.
The company plans to file a Form 25 with the SEC on or about March 22, 2024, to formally remove its ADSs from the NASDAQ. Following the delisting, voxeljet AG will file a Form 15 with the SEC to deregister its ADSs under the Securities Exchange Act of 1934.
This step is expected to relieve the company from its reporting obligations under Sections 13(a) and 15(d) of the Exchange Act, including the submission of Forms 20-F and 6-K. The deregistration is anticipated to take effect around April 1, 2024.
voxeljet AG has made forward-looking statements regarding its plans to delist and deregister, as well as the potential benefits of such actions. Moreover, these statements are based on current expectations and assumptions and are not guarantees of future performance.
The company acknowledges that there are risks and uncertainties that could affect the outcome of these plans and cautions investors not to place undue reliance on these forward-looking statements.
This announcement is based on a press release statement from voxeljet AG. Investors should note that the company will no longer be required to update any forward-looking statements or to comply with SEC reporting requirements after the deregistration process is completed.
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