Nasdaq Has Informed the Company That a Bid
Price Deficiency of its Stock Has Been Cured
BOLINGBROOK, Ill., Sept. 27,
2024 /PRNewswire/ -- Hyzon (NASDAQ: HYZN) ("Hyzon" or
the "Company"), a U.S.-based high-performance hydrogen fuel cell
system manufacturer and technology developer focused on providing
zero-emission power to decarbonize the most demanding industries,
today announced it received notification from the Nasdaq Hearings
Department on September 26, 2024 that
the Company has regained compliance with all applicable Nasdaq
Capital Markets listing requirements and has fully cured its prior
bid price deficiencies.
About Hyzon
Hyzon is a global supplier of
high-performance hydrogen fuel cell technology focused on providing
zero-emission power to decarbonize demanding industries. With
agile, high-power technology designed for heavy-duty applications,
Hyzon is at the center of a new industrial revolution fueled by
hydrogen, the most abundant natural element, and a clean
energy source. Hyzon is focusing on deploying its fuel cell
technology in heavy-duty commercial vehicles in Class 8 and refuse
collection vehicles across North America, as well as new
markets such as stationary power applications. To learn more
about how Hyzon partners across the hydrogen value chain to
accelerate the clean energy transition,
visit www.hyzonfuelcell.com.
Forward-Looking Statements
This press release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements include
the Company's expectations, hopes, beliefs, intentions or
strategies for the future. You are cautioned that such statements
are not guarantees of future performance and that the Company's
actual results may differ materially from those set forth in the
forward-looking statements. All of these forward-looking
statements are subject to risks and uncertainties that may change
at any time. Factors that could cause the Company's actual
expectations to differ materially from these forward-looking
statements include the Company's ability to improve its capital
structure; Hyzon's liquidity needs to operate its business and
execute its strategy, and related use of cash; its ability to raise
capital through equity issuances, asset sales or the incurrence of
debt; the possibility that Hyzon may need to seek bankruptcy
protection; Hyzon's ability to fully execute actions and steps that
would be probable of mitigating the existence of substantial doubt
regarding its ability to continue as a going concern; our ability
to enter into any desired strategic alternative on a timely basis,
on acceptable terms; our ability to maintain the listing of our
Common Stock on the Nasdaq Capital Market; retail and credit market
conditions; higher cost of capital and borrowing costs;
impairments; changes in general economic conditions; and the other
factors under the heading "Risk Factors" set forth in the Company's
Annual Report on Form 10-K, as supplemented by the Company's
quarterly reports on Form 10-Q and current reports on Form 8-K.
Such filings are available on our website or at www.sec.gov.
You should not place undue reliance on these forward-looking
statements, which are made only as of the date hereof. The Company
undertakes no obligation to publicly update or revise
forward-looking statements to reflect subsequent developments,
events, or circumstances, except as may be required under
applicable securities laws.
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SOURCE Hyzon