NOVONIX Commences Trading on Nasdaq
Brisbane, Feb 2, 2022 AEST (ABN Newswire) - NOVONIX Limited (ASX:NVX) (GC3:FRA) (NVNXF:OTCMKTS), announces that its American Depositary Receipts ("ADRs") commenced trading on the Nasdaq Stock Market ('Nasdaq') and its registration statements on Form 20-F and F-6 have been declared effective by the U.S. Securities and Exchange Commission. The Bank of New York Mellon has been appointed depositary, custodian and registrar for the Level II ADR program.
NOVONIX's ADRs are listed on Nasdaq under the ticker symbol "NVX" and complement the existing primary listing of NVX shares on the Australian Securities Exchange ("ASX"). Under the Level II program, the ADRs are based on NOVONIX's ordinary shares currently on issue. Each ADR represents four (4) fully paid shares of NOVONIX.
An ADR is a negotiable receipt, resembling a stock certificate that is issued by a United States depositary bank appointed to evidence one or more American Depositary Shares. Establishing this program is part of an ongoing strategy to expand NOVONIX's reach to investors in the United States and make the Company's securities eligible as a direct investment for North American institutions and fund managers.
Under the program, the owners and holders of ADRs will have the same rights to dividends and distributions and voting powers as the holders of NOVONIX's ordinary shares (ASX:NVX) and F shares (NVNXF:OTCMKTS), subject to the terms of the deposit agreement.
The establishment of the program by NOVONIX is not a public offering or issuance of new NOVONIX ordinary shares.
About NOVONIX Limited
NOVONIX Limited (ASX:NVX) (FRA:GC3) (OTCMKTS:NVNXF) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.