Novonix, a company investing $160 million in Chattanooga to make battery materials, has begun the process to list its securities on the NASDAQ stock exchange.
Novonix, which plans to create 300 jobs in Chattanooga, has filed a registration statement, Form 20-F, with the U.S. Securities and Exchange Commission, according to the Australia-based company listed on the Australian Securities Exchange.
The U.S. listing is expected to take place after the SEC and NASDAQ have completed their review process and upon effectiveness of the registration statement. Securities will take the form of a Level II American Depository Receipt program and will complement the existing primary listing on the Australian exchange, the company said.
Establishing the program is part of an ongoing strategy to expand Novonix' reach to investors in the United States and make the company's securities potentially eligible as a direct investment for North American institutions and fund managers.
"This listing furthers our long-term goal of reshoring the EV supply chain in North America and becoming a leader in the electrification economy," said Dr. Chris Burns, chief executive at Novonix.
— Compiled by Mike Pare