Common stock from the protective film and coating company XPEL Inc. was approved by the U.S. Securities and Exchange Commission (SEC) to trade on the NASDAQ Stock Market, starting July 19. Shares of the 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 began trading under the new CUSIP on the TSX Venture Exchange and commence trading on NASDAQ 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, according to the company. 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.
XPEL 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.
“Our listing on NASDAQ is an exciting milestone for our Company that we’ve been considering and working toward for quite some time,” Ryan Pape, president and CEO of XPEL. “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.