Voxeljet AG Announces NASDAQ Delisting and SEC Deregistration to Strengthen Financial Position

voxeljet AG, known for its innovative 3D printing solutions, declared its intention to delist its American Depositary Shares (ADSs) from the NASDAQ stock exchange and deregister its ADSs with the U.S. Securities and Exchange Commission (SEC). This strategic move aims to cut costs and enhance the company's financial health.

Following an evaluation, voxeljet determined that the benefits of maintaining its NASDAQ listing do not outweigh the extensive costs and managerial effort required for SEC compliance. The company has announced the commencement of the delisting process, which is expected to relieve it from the obligations of adhering to the U.S. securities laws, thereby reducing operational expenses.

The formal procedure to remove its ADSs from the NASDAQ market is scheduled to start on or around March 22, 2024, with a Form 25 filing to the SEC. Following the delisting's effectiveness, voxeljet plans to proceed with a Form 15 submission to deregister its ADSs. By approximately April 1, 2024, this action is anticipated to conclude voxeljet's reporting obligations under the Securities Exchange Act of 1934.

This strategic realignment suggests voxeljet's focus on optimizing financial resources and streamlining its operational structure. While the company highlighted the expected advantages of the delisting and deregistration, it acknowledged potential risks and uncertainties, emphasizing that future outcomes may vary.