HYZNW - Hyzon Motors and large shareholders unveil plan to sell $780M of shares and warrants

Hydrogen-powered truck maker Hyzon Motors (NASDAQ:HYZN)(NASDAQ:HYZNW) and some of its major shareholders disclosed plans Friday to sell some $780M of stock and warrants, boosting the firm’s Class A float by 7.8%. HYZN, which recently went public via a SPAC merger with Decarbonization Plus Acquisition Corp., detailed its plans in an S-1 filing with the U.S. Securities and Exchange Commission. The company wrote that it aims to issue some $222M of warrants to fulfill a private placement and loan that Decarbonization Plus issued in connection with its own IPO last fall. Additionally, Hyzon wrote that entities affiliated with Blackrock, Fidelity, Federated Hermes, UBS and some 50 other major investors are seeking shelf registration to sell as much as $557.9M of their shares and warrants over time. All told, the plan will boost HYZN’s Class A float to about 266.3M shares outstanding from the current 247M, assuming the eventual conversion of all

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Hyzon Motors and large shareholders unveil plan to sell $780M of shares and warrants