Hyzon Motors Inc.

Form Type: 8-K

Filing Date: 2025-01-07

Corporate Action: Liquidation

Type: New

Accession Number: 000171658325000003

Comments: On January 4, 2025, Hyzon Motors Inc. approved retention incentives for certain executive officers and key employees as part of their anticipated restructuring efforts. The retention incentives are aimed at retaining and motivating participants through a planned special shareholder meeting on February 13, 2025, where the company seeks approval for the transfer of assets and their liquidation and dissolution. The incentives will equal two months’ salary for each participant, with a total of approximately $0.2 million set aside for these retention incentives. Specific agreements have been signed with key executives, outlining the conditions and amounts to be paid. Forward-looking statements included in the document caution that actual results may differ due to various factors, including potential bankruptcy proceedings and operational challenges. The document also outlines the risk factors that may affect the company's future performance and mentions compliance with SEC filing requirements.

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Form Type: DEF 14A

Filing Date: 2024-12-30

Corporate Action: Liquidation

Type: New

Accession Number: 000121390024113488

Comments: Hyzon Motors Inc. is soliciting stockholder approval for three crucial proposals at a Special Meeting scheduled for February 13, 2025. The proposals include: (1) the Assignment Proposal, allowing the Company to transfer all or substantially all of its assets to an assignee for the benefit of creditors; (2) the Dissolution Proposal, which seeks approval for the liquidation and dissolution of the Company under a Plan of Dissolution; and (3) the Adjournment Proposal, to enable further proxy solicitation if needed. The Board recommends voting 'FOR' all presented proposals to facilitate an orderly wind-down of operations, addressing ongoing financial challenges, and maximizing creditor recoveries. The intended liquidation process aims to clear any existing obligations and objectify potential distributions to stockholders if available. The Board emphasizes that no appraisal rights will be provided under Delaware law for stockholders. Stockholders of record as of December 26, 2024, are eligible to vote, and are encouraged to submit their proxies in advance.

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