Tritium DCFC Plunges In Pre-market After Disclosure Of Insolvency

(RTTNews) - Shares of Tritium DCFC Limited (DCFC) were down more than 64 percent in pre-market on Friday to $1.2959, after the company said in a filing that Tritium DCFC and its three Australian units are insolvent or likely to be insolvent.

Tritium DCFC designs and manufactures hardware and software to create DC fast chargers for electric vehicles.

In a filing with the Securities and Exchange Commission, the company said it has decided to appoint Peter James Gothard, James Douglas Dampney and William Martin Colwell of KPMG as joint and several administrators.

Tritium DCFC Limited shares had closed at $3.64, down 0.54 percent on Thursday. It has traded in the range of $3.20 - $304.00 in the last 1 year.