The New York Stock Exchange has initiated proceedings to delist certain Lion Electric warrants, as their sale price has reached “abnormally low levels.”
The Quebec-based manufacturer of electric buses and trucks explained on Wednesday that the regulatory staff of the New York Stock Exchange decided to initiate proceedings to delist its warrants, which expire on May 6, 2026.
Trading in these warrants was suspended immediately, but trading in the company’s common stock and another series of warrants with an expiration date of Dec. 15, 2027, will continue.
According to Lion, the New York Stock Exchange made the decision because its regulatory staff determined that the warrants in question were no longer suitable for trading on the exchange due to “abnormally low levels of the sale price.”
The Saint-Jérôme-based company is evaluating the possibility of requesting a review of the decision.
Warrants give their holders the right to buy shares in …