FREYR Battery Completes Redomicile from Luxembourg to the U.S.
02 Gennaio 2024 - 12:30PM
Business Wire
FREYR Battery, Inc. (NYSE: FREY) (“FREYR” or the “Company”), a
developer of clean, next-generation battery cell production
capacity, completed its previously announced process to redomicile
from Luxembourg to the United States effective December 31,
2023.
In connection with the completion of the redomiciliation, each
of the issued and outstanding of the Company's previous Ordinary
Shares and public and private Warrants have become, on a
one-for-one basis, shares of Common Stock and Warrants,
respectively, of FREYR Battery, Inc., a Delaware corporation. The
Company expects that trading of the FREYR Common Stock and Warrants
will commence under the same symbols on the New York Stock Exchange
as of the open of business this morning, January 2, 2024.
Details of process to redomicile can be found in an 8-K filed
today with the U.S. Securities and Exchange Commission (the "SEC")
on the Company’s website and at www.sec.gov.
As previously announced, and after considering various factors,
FREYR’s Board of Directors believes that redomiciling to the United
States will enhance shareholder value over the long-term by
providing potential strategic opportunities and benefits,
including:
- Simplifying FREYR’s corporate structure and streamlining
reporting requirements, which will (i) facilitate efforts incurred
by FREYR to assess, implement, and remain compliant with multiple
regulatory and reporting requirements for FREYR on a consolidated
basis, and (ii) provide opportunities for FREYR to improve
operational efficiencies and financial flexibility in the corporate
treasury, cash management, risk management, and tax functions;
- Enhancing FREYR’s eligibility for inclusion in equity indexes
and trigger associated benchmarking from actively managed funds,
thereby delivering a significant uplift in fund flows to its
ordinary shares;
- Benefiting from well-established principles of corporate
governance under Delaware law, which are more closely aligned with
the New York Stock Exchange listing standards and the SEC
governance requirements; and
- Positioning FREYR to better respond to global tax developments
and U.S. incentive programs for battery manufacturers, considering
recent changes in U.S. tax laws and federal incentive
programs.
About FREYR Battery
FREYR Battery is a developer of clean, next-generation battery
cell production capacity. The company’s mission is to accelerate
the decarbonization of global energy and transportation systems by
producing clean, cost-competitive batteries. FREYR seeks to serve
the primary markets of energy storage systems (“ESS”) and
commercial mobility, and the company maintains an ambition to serve
the passenger electric vehicles market (“EV”). FREYR is
commissioning and operating its Customer Qualification Plant
(“CQP”) for technology development in Mo I Rana, Norway, and the
company is commencing development of the Giga America battery
manufacturing project in Coweta County, Georgia, in the U.S. To
learn more about FREYR, please visit www.freyrbattery.com.
Cautionary Statement Concerning Forward-Looking
Statements
All statements, other than statements of present or historical
fact included in this press release, including the enhancement of
shareholder value generated by the redomiciliation and any
potential strategic opportunities and benefits of the
redomiciliation are forward looking statements.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside FREYR’s control and are difficult to predict. Additional
information about factors that could materially affect FREYR is set
forth under the “Risk Factors” section in (i) FREYR’s Registration
Statement on Form S-3 filed with the Securities and Exchange
Commission (the “SEC”) on September 1, 2022, (ii) FREYR Battery,
Inc.’s Registration Statement on Form S-4 filed with the SEC on
September 8, 2023 and subsequent amendments thereto filed on
October 13, 2023, October 19, 2023, and October 31, 2023, (iii)
FREYR’s Annual Report on Form 10-K filed with the SEC on February
27, 2023, and (iv) FREYR’s Quarterly Reports on Form 10-Q filed
with the SEC on May 15, 2023, August 10, 2023 and November 9, 2023
and available on the SEC’s website at www.sec.gov. Except as
otherwise required by applicable law, FREYR disclaims any duty to
update any forward-looking statements, all of which are expressly
qualified by the statements in this section, to reflect events or
circumstances after the date of this presentation. Should
underlying assumptions prove incorrect, actual results and
projections could differ materially from those expressed in any
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240102430889/en/
Investor contact:
Jeffrey Spittel Head of Investor Relations
jeffrey.spittel@freyrbattery.com Tel: (+1) 409 599-5706
Media contact:
Amy Jaick Global Head of Communications
amy.jaick@freyrbattery.com Tel: (+1) 973 713-5585
Grafico Azioni FREYR Battery (NYSE:FREY)
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Da Nov 2024 a Dic 2024
Grafico Azioni FREYR Battery (NYSE:FREY)
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Da Dic 2023 a Dic 2024