UPDATE: JPMorgan Double Downgrades Hyzon Motors Inc (HYZN) to Underweight
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Hyzon Motors Tumbles After Announcing Investigation into China Operations
August 5, 2022 1:03 PM EDTHyzon Motors (NASDAQ: HYZN) shares plunged over 40% Friday following a filing by the company aftermarket Thursday that revealed the company's Board of Directors hired an independent outside counsel and other advisors to assist in an investigation into the company's China operations.
The announcement came as the second part of a press release stating the company had entered into a Stock Purchase Agreement with Holthausen Clean Technology Investments to acquire 735,000 shares of stock that Holthausen holds in Hyzon Motors... More
Hyzon Motors (HYZN) to buy back shares from Holthausen, to investigate revenue recognition timing, internal controls (earlier)
August 5, 2022 7:41 AM EDTHyzon Motors (NASDAQ: HYZN) disclosed:
On May 5, 2022, Hyzon Motors Inc. (the Company) entered into a Stock Purchase Agreement with Holthausen Clean Technology Investments B.V. (Holthausen) and certain other sellers whereby the Company agreed to acquire 735,000 shares of stock that Holthausen holds in Hyzon Motors Europe B.V., a joint venture operated by the Company and Holthausen, for 27 million. These shares represented approximately 25% of the issued and outstanding stock of Hyzon Motors Europe B.V. As a result of the transaction,... More
