01—Abstract
Summary
Summary of the 8-K filed February 8, 2023. Cited figures are marked; the original filing is the authoritative source.
Coherent Corp. (COHR) has announced a significant strategic move to transfer its stock listings from The Nasdaq Stock Market LLC (“Nasdaq”) to the New York Stock Exchange (“NYSE”).
This voluntary delisting from Nasdaq is scheduled to be effective after market close on February 22, 2023. Consequently, both the Company's common stock and its 6.00%a Series A Mandatory Convertible Preferred Stock are expected to commence trading on the NYSE on February 23, 2023.
The common stock will retain its ticker symbol “COHR”, while the Series A Mandatory Convertible Preferred Stock will trade under the ticker symbol “IIVI”. This decision has been formally approved by the Company's Board of Directors, signaling a confident step towards a new trading venue.
02—Key points
Key Highlights
- Coherent Corp. (COHR) is voluntarily transferring its stock listing from Nasdaq to the NYSE.
- The transfer is effective after market close on February 22, 2023.
- Trading on the NYSE is expected to begin on February 23, 2023.
- The common stock will continue to trade under the ticker symbol "COHR" on the NYSE.
- The 6.00% Series A Mandatory Convertible Preferred Stock will trade under the ticker symbol "IIVI" on the NYSE.
- The Company's Board of Directors has approved this listing transfer.
03—Questions
Frequently Asked Questions
Why is Coherent Corp. moving its listing from Nasdaq to the NYSE?
The 8-K filing states that the transfer is voluntary. While specific reasons are not detailed in this filing, companies often move exchanges for perceived benefits such as enhanced visibility, access to a broader investor base, or alignment with their strategic goals.
Will my COHR shares automatically transfer to the NYSE?
Yes, your COHR shares will automatically be listed on the NYSE. The transfer is a change of exchange venue, not a change in the shares themselves. You do not need to take any action for your shares to be listed on the NYSE.
What happens to the ticker symbols?
The common stock will continue to trade under the ticker symbol "COHR" on the NYSE. However, the 6.00% Series A Mandatory Convertible Preferred Stock will trade under a new ticker symbol, "IIVI", on the NYSE.
When will the stock start trading on the NYSE?
The delisting from Nasdaq is effective at the close of trading on February 22, 2023. Trading on the NYSE is expected to begin on Thursday, February 23, 2023.
04—Continue