Freyr Files Form S-4 With SEC To Redomicile To US From Luxembourg

(RTTNews) - Freyr Battery (FREY), a clean battery cell developer, said on Monday that its unit FREYR Battery, Inc., a US Delaware corp. has filed an S-4 form with the Securities and Exchange Commission or the SEC to redomicile to the US from Luxembourg.

Freyr believes that this step will simplify its corporate structure, streamline the reporting requirements, enhance the firm's eligibility for inclusion in equity indexes and the associated benchmarking from actively managed funds, and help the company respond to US incentive programs for battery manufacturers, along with global tax developments.

This is following the previous announcement on August 10 where the company made its plans of redomiciling by the year end, public.

The filing of the Form S-4 is a step in that direction.

The transaction will require a vote of approval from the shareholders later this year.

In pre-market activity, shares of Freyr are trading at $ 6.28 up 1.45% on the New York Stock Exchange.