AAC Clyde Space has announced that its shares have begun trading in the US on the Pink Market under the symbol "ACCMF" and that it has applied to have its shares trade on the OTCQX Market, the highest tier within the OTC group. This will make AAC Clyde Space's shares more accessible to US investors, who can now trade the shares in US dollars in the US.
The decision to join the OTCQX market is part of the company's strategy to expand its activities in the US, the world's largest and most dynamic small satellite market.
"AAC Clyde Space is one of the world leaders in small satellites, providing companies and institutions worldwide with cutting edge, dependable space subsystems and satellites. Joining OTCQX is an important step in expanding our visibility and operations in the world's largest space sector. We currently have several opportunities coming up in the US and look forward to see new U.S. based stakeholders and investors joining us in our future growth", says AAC Clyde Space CEO Luis Gomes.
The US market currently represents more than 30% of AAC Clyde Space's business, with sales ranging from small components to full Space as a Service solutions. The company's customers in the US include universities, government organizations and established satellite operators, who use AAC Clyde Space's subsystems and satellites for a variety of purposes - communications, Earth monitoring and space exploration, among others.
The OTCQX Market is operated by OTC Markets Group, an American financial market for 11,000 over-the-counter (OTC) securities. The OTCQX market includes both multinational companies seeking access to U.S. investors and domestic growth companies. Companies are not required to be registered with or report to the SEC but must undergo a review and thereafter post financial information with OTC Markets Group. Trading hours are 9.30-16.00 US Eastern time.
AAC Clyde Space AB will maintain its primary listing on Nasdaq First North Stockholm where it has been trading under the symbol AAC.ST since 2016, advancing to the Premiere segment in 2019.