- Following a bumper 2020 on Canadian exchanges, industrial tech developer PyroGenesis (PYR) is now chasing a new U.S. listing on the Nasdaq
- Through the proposed new listing, the company hopes to attract new institutional and retail investors, as well as broaden its investor base and increase its global visibility and credibility
- Barring any delays or objections, the listing is expected to come into effect by the end of 2021’s first quarter
- PyroGenesis is currently up 0.28 per cent and is trading for C$3.60 per share
Following a bumper 2020 on the Canadian markets, industrial tech developer PyroGenesis (PYR) is now chasing a new U.S. listing on the Nasdaq.
Following a decision by the company’s board, PyroGenesis has approved to seek the listing, just weeks after transitioning from the TSX-Venture exchange to the TSX.
Through the proposed new listing, the company hopes to attract new institutional and retail investors, as well as broaden its investor base and increase its global visibility and credibility.
Photis Pascali, CEO and Chair of PyroGenesis, said the company was pleased to announce another significant step towards ultimately enhancing shareholder value.
“The United States has the largest capital market in the world and, as such, a Nasdaq listing has always been on our radar as one of the many strategies to execute as part of our long-term vision for the company,” he added.
Nevertheless, Photis went on to sat there still remains a rigorous application procedure, which the company must pass before a final listing is granted.
Barring any delays or objections, the listing is expected to come into effect by the end of the 2021’s first quarter.
PyroGenesis also noted that it will not be a concurrent financing associated with this listing nor will there be a reverse stock split.
The news follows an impressive year-to-date for PYR shares, which have risen from almost 700 per cent on its price back in January.
Much of the recent interest in the company has surrounded its plasma torch technology, which is now being used to reduce emissions in the iron ore pellet manufacturing process.
The new source of input has quadrupled the company’s third quarterly revenue, which recently sent stocks up even further.
PyroGenesis is currently up 0.28 per cent and is trading for C$3.60 per share at 11:38am EST.
