SAN ANTONIO--(BUSINESS WIRE)--XPEL, Inc. (TSXV: DAP.U) (“the Company”), a global provider of protective films and coatings, today announced that its registration statement on Form 10 has been declared effective by the U.S. Securities and Exchange Commission (“SEC”) and the Company’s common stock will begin trading on the Nasdaq Stock Market (“NASDAQ”) effective with the opening of trading on July 19, 2019. Shares of the Company’s common stock will trade under the symbol “XPEL.”
In connection with its NASDAQ listing, the CUSIP number for the common stock has been changed to 98379L100. XPEL’s shares will begin trading under the new CUSIP on the TSX Venture Exchange and commence trading on NASDAQ on July 19, 2019 under the new CUSIP. Shareholders who hold a physical stock certificate are advised to tender their original certificate to the transfer agent at their earliest convenience in order to receive a new certificate. No action is required to be taken by shareholders who hold their shares with a bank or broker with respect to the NASDAQ listing and CUSIP change.
A Form 10 registers existing shares with the SEC without offering any additional shares for sale. The Company is now subject to the reporting requirements of the Securities Exchange Act of 1934 and will file periodic reports such as Form 10-Qs, Form 10-Ks and Proxy Statements with the SEC.
Ryan Pape, President and Chief Executive Officer of XPEL, commented, “Our listing on NASDAQ is an exciting milestone for our Company that we’ve been considering and working toward for quite some time. As a Texas-based company, it makes sense for XPEL to trade in the U.S. as an SEC registered company, and we believe this move will enhance our visibility in the marketplace, expose our Company to a larger audience of investors and ultimately increase liquidity and shareholder value.”
The NASDAQ is the world's largest electronic stock market, listing approximately 3,600 public companies. The exchange trades more shares per day than any other U.S. equities market. It is also among the world's best-regulated stock markets, employing sophisticated surveillance systems and regulatory specialists to protect investors and provide a fair and competitive trading environment.
About XPEL, Inc.
XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films and ceramic coatings. With a global footprint, a network of trained installers and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support and world-class training. XPEL, Inc. (NASDAQ: XPEL; TSXV: DAP.U) is publicly traded on the TSX Venture Exchange and will commence trading on NASDAQ on July 19, 2019.
Safe harbor statement
This release includes forward-looking statements regarding XPEL, Inc. and its business, which may include, but is not limited to, expansion into new markets and execution of the company's growth strategy. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "is expected," "expects," "scheduled," "intends," "contemplates," "anticipates," "believes," "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of XPEL. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, performance and acceptance of the company's products, economic factors, competition, the equity markets generally and many other factors beyond the control of XPEL. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.