On November 22, 2022 IPA (IMMUNOPRECISE ANTIBODIES LTD.) (the "Company" or "IPA") (NASDAQ: IPA) (TSXV: IPA) reported that it has applied and has received approval for a voluntary delisting of its common shares from the TSX Venture Exchange ("TSXV") (Press release, ImmunoPrecise Antibodies, NOV 22, 2022, View Source [SID1234624460]). Accordingly, it is anticipated that, effective as at the close of trading on Friday, November 25, 2022, IPA’s common shares will no longer be listed and posted for trading on the TSXV.
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The delisting from the TSXV will not affect the Company’s listing on the NASDAQ Global Market (the "NASDAQ"). The common shares will continue to trade on the NASDAQ under the symbol "IPA".
The Company believes that the trading volume of its shares on the TSXV no longer justifies the expenses and administrative efforts required to maintain a dual listing. The Company also believes that delisting from the TSXV will create a central marketplace for its common shares on the NASDAQ, and ultimately benefit the long-term liquidity and shareholder value of the Company.
Following delisting from the TSXV, IPA’s shareholders can trade their common shares through their brokers on NASDAQ. As most brokers in Canada, including many discount and online brokers, have the ability to buy and sell securities listed on NASDAQ, IPA’s NASDAQ listing will continue to provide shareholders with the same accessibility to trade the Company’s common shares. Shareholders holding shares in Canadian brokerage accounts should contact their brokers to confirm how to trade IPA’s shares on the NASDAQ.