Shyft Group delisted as Aebi Schmidt begins regular trading on Nasdaq

FRAUENFELD, Switzerland - The Shyft Group, Inc. (NASDAQ:SHYF), which has demonstrated strong returns with a 14.5% gain over the past year according to InvestingPro data, has completed its previously announced merger with Aebi Schmidt Holding AG, according to a press release statement issued Wednesday.

Following the transaction’s completion, Shyft’s common stock has been delisted from the Nasdaq Global Select Market. The company, which maintained dividend payments for 38 consecutive years and currently offers a 1.6% yield, has requested that Nasdaq file a Form 25 with the SEC to formally remove its stock from listing and registration under Section 12(b) of the Securities Exchange Act of 1934.

Shares of the newly formed Aebi Schmidt Group traded on Nasdaq on a "when-issued" basis under the ticker symbol "AEBIV" on Tuesday, and are expected to begin regular-way trading under the ticker symbol "AEBI" on Wednesday.

The merger combines Shyft, a North American specialty vehicle manufacturer with approximately 2,900 employees and 2024 sales of $786 million, with Aebi Schmidt, a global provider of infrastructure, environmental, and agricultural solutions that generated over €1 billion in net sales in 2024 and employs around 3,000 people. InvestingPro analysis shows Shyft maintains strong liquidity with a current ratio of 1.72, while analysts forecast net income growth for the coming year.

Shyft’s operations include manufacturing and upfitting for commercial, retail, and service specialty vehicle markets across multiple brands including Utilimaster, Blue Arc EV Solutions, Royal Truck Body, DuraMag, and Magnum.

Aebi Schmidt Group maintains 16 sales organizations and over a dozen production facilities worldwide, with representation in 90 additional countries through dealer partnerships.

The merger creates a combined entity with expanded global reach in specialty vehicle manufacturing and infrastructure solutions.

In other recent news, Shyft Group Inc. reported strong financial results for the first quarter of 2025, surpassing expectations. The company achieved an adjusted earnings per share (EPS) of $0.07, exceeding the forecasted loss of $0.10 per share, and posted revenue of $204.6 million, which was above the anticipated $198.96 million. Additionally, Shyft Group has completed its merger with Aebi Schmidt Holding AG, forming the Aebi Schmidt Group. This merger, structured to be tax-free for Shyft shareholders, will see the combined entity trading on NASDAQ under the ticker symbol "AEBI." Shyft Group shareholders overwhelmingly approved the merger, with approximately 99% of votes in favor, representing about 81% of the total outstanding shares. The merger is expected to enhance Shyft’s global presence and expand its product offerings in the specialty vehicle market. In a related development, the company’s Chief Legal, Administrative and Compliance Officer, Joshua Sherbin, may depart following the merger. Lastly, Shyft Group declared a quarterly cash dividend of $0.05 per share, payable in June 2025, reflecting its financial health and commitment to returning value to shareholders.

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