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Company’s words
$TuSimple (TSP.US)$ TuSimple Holdings will voluntarily delist its common stock from the Nasdaq Stock Market.
The autonomous trucks developer also said it would terminate the registration of its common stock with the Securities and Exchange Commission.
The decision to delist and deregister, made by the board's special committee, was made after concluding that the decision was in the best interests of TuSimple and its shareholders, the company said.
TuSimple said a shift in capital markets stemming from rising interest rates and quantitative tightening has changed investor sentiment for pre-commercialization technology growth companies, which in turn pressured its valuation and liquidity while also increasing the volatility of its stock price.
The committee said it determined that the benefits of remaining a publicly traded company no longer justify the costs.![]()
The autonomous trucks developer also said it would terminate the registration of its common stock with the Securities and Exchange Commission.
The decision to delist and deregister, made by the board's special committee, was made after concluding that the decision was in the best interests of TuSimple and its shareholders, the company said.
TuSimple said a shift in capital markets stemming from rising interest rates and quantitative tightening has changed investor sentiment for pre-commercialization technology growth companies, which in turn pressured its valuation and liquidity while also increasing the volatility of its stock price.
The committee said it determined that the benefits of remaining a publicly traded company no longer justify the costs.
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