CHARLOTTE, N.C.–(BUSINESS WIRE)–Hyperion Metals Limited (ASX: HYM) (“Company”) is pleased to announce that it plans to pursue a listing on a national securities exchange in the United States and will change its name to “IperionX Limited.”
The Company plans to file a registration statement on Form 20-F to register its ordinary shares with the United States Securities and Exchange Commission (“SEC”), subject to review by the SEC staff. A Form 20-F, once declared effective by the SEC, allows certain non-U.S. issuers to register securities with the SEC pursuant to applicable U.S. securities laws. The Company’s registration of ordinary shares, if approved, would allow American depositary shares representing ordinary shares of the Company to be listed on a national securities exchange in the United States.
Listing on a national securities exchange in the United States will enhance the visibility and accessibility of Hyperion to the extensive U.S. market of retail and institutional investors and enable new and existing U.S. investors to trade Hyperion’s American depositary shares in U.S. dollars and during normal U.S. trading hours.
As a result of the Company’s proposed U.S. listing, the Company will seek shareholder approval to change its name to “IperionX Limited.” The change of name follows a potential conflict in the U.S. with the Company’s existing name that has been recently identified. A notice of general meeting will be sent to shareholders shortly.
Anastasios Arima, Chief Executive Officer and Managing Director, said, “The proposed list ing is expected to create greater awareness of our U.S.-focused critical minerals and metals technologies in the United States, providing exposure to enormous investor demand in a market which has a deep understanding for advanced technologies that support global decarbonization efforts, such as Hyperion’s low carbon titanium metal technologies. We believe that access to a much larger pool of capital will provide the potential for increased liquidity and enhanced value for our shareholders.”
About Hyperion Metals
Hyperion’s mission is to be the leading developer of low carbon, sustainable, critical material supply chains focused on the production of titanium for advanced industries including space, aerospace, electric vehicles and 3D printing. Hyperion’s breakthrough titanium technologies have demonstrated the potential to produce titanium products which are sustainable, 100% recyclable, low carbon intensity and at product qualities which exceed current industry standards. The Company also holds a 100% interest in the Titan Project, covering approximately 11,000 acres of titanium, rare earth minerals, high grade silica sand and zircon rich mineral sands properties in Tennessee, United States.
Full details of the announcement can be found here.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities.