Hyster-Yale Materials (HY) Shareholder Cetus Urges Board to Evaluate Strategic Alternatives for Nuvera, Including Sale to Strategic or SPAC

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Cetus Capital Issues Letter to Hyster-Yale’s Board of Directors

March 16, 2021 9:00 AM EDT

Urges the Board of Directors to Evaluate Strategic Alternatives for Nuvera Immediately, Including a Sale to a Strategic or SPAC

Sees an Opportunity to Unlock Significant Value Now by Monetizing Nuvera, a Crown-Jewel Asset with Leading Technologies and Capabilities

Believes Nuvera Could Command a Billion Dollar (or more) Valuation, Based on Comparable Publicly-Traded Fuel Cell Companies and Very Large Total Addressable Market

Conveys Concern Regarding Hyster-Yales Ownership and Management of Nuvera

Expresses a View That Hyster-Yale Should Focus... More