TuSimple to Delist from Nasdaq, Says Benefits of Being Public Not Justified by Costs
17 January 2024 - 11:53PM
Dow Jones News
By Denny Jacob
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.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 17, 2024 07:38 ET (12:38 GMT)
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