Company: Vicinity Motor Corp(formerly Grande West Transportation )
Listings :TSXV , US OTC SOON to be up listed at Nasdaq
Ticker: VMC.V (previously BUS ,) BUSXF at US OTC
Market cap at time of publication: $223 MCAD
Stock price at time of publication: $7.23 CAD ( reverse split price 2,41 CAD)
Business: Leading supplier of electric, CNG, gas and clean-diesel buses for
both public and commercial enterprise use in the U.S and Canada
Comparable peer : Greenpower Motor , Market cap $545 MCAD
Website: https://vicinitymotorcorp.com/
Vicinity Motors today announced that the Nasdaq Stock Market LLC has approved the listing of the Company’s common shares on the Nasdaq Capital Market (“Nasdaq”).
The Company expects to begin trading on the Nasdaq on Wednesday, July 7, 2021 under the symbol “VEV”. The Company’s common shares will continue to trade on the OTCQX until market close on July 6, 2021. The trading symbols for on the TSX Venture and Frankfurt exchanges will remain unchanged.
“The listing of our shares on the Nasdaq represents a significant milestone for Vicinity Motor as we leverage our strong momentum to accelerate sales of our next-generation electric vehicle (EV) products,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “We believe a Nasdaq listing will help elevate the Company’s public profile, expand our shareholder base, improve liquidity and enhance shareholder value.”
“We continue to see traction in the marketplace, delivering 20% more vehicles in the first quarter of 2021 than we did in all of 2020 combined. We believe that our growth in the future will be driven by our breakthrough Vicinity Lightning™ EV bus, as well as our new VMC 1200 Class 3 EV truck. Both of which have seen strong support from government agencies, private operators, dealers and transit authorities for the electrification of their fleets. We expect additional EV innovations we have been developing to further solidify our position as a leader in this market. VMC is well positioned for continued growth and we have the human and financial resources in place necessary to support that growth. We look forward to sharing our story with a wider network of Nasdaq investors.”
ESG comment:
The long awaited NASDAQ uplisting confirmation has arrived and it’s a joy to see one of our biggest conviction portfolio companies advance to Wall Street. This opens up Vicinity Motors to a far larger private investor market as well as for larger institutional investors. It will be very exciting to follow how this can affect the stock price both on a short, medium and longer term especially since there are many more expensively valued competitors listed on the NASDAQ exchange.
We own shares of this company personally.
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