SINGAPORE / ACCESS Newswire / June 2, 2026 / As disclosed in the Form 6-K of Maxeon Solar Technologies, Ltd. (Under Judicial Management) ("Maxeon" or the "Company") dated April 27, 2026 (the "April 27 Form 6-K"), the staff of The Nasdaq Stock Market LLC's ("Nasdaq") Listing Qualifications department (the "Staff") has notified the Company of its determination to delist the Company's securities from The Nasdaq Global Market. Trading in the Company's securities was suspended at the open of business on May 1, 2026, and the securities subsequently began trading on the over-the-counter market.
Maxeon today announced that on May 26, 2026, it received a further written notice (the "Notice") from Nasdaq that the Staff has determined the following additional and separate bases for delisting the Company's securities from The Nasdaq Global Market (the "Delisting"):
The Company no longer has any independent board members on its Audit Committee, where based on the vacancies, the Company is not entitled to a cure period. In addition, due to the delisting determination disclosed in the April 27 Form 6-K, in accordance with Listing Rule 5810(c)(2)(a), the Company is ineligible to submit a plan of compliance; and
The Company has not yet filed its Form 20-F for the period ended December 31, 2025 hence it no longer complies with Nasdaq's Listing Rules for continued listing. In addition, due to the delisting determination disclosed in the Company's April 27 Form 6-K, in accordance with Listing Rule 5810(c)(2)(a), the Company is ineligible to submit a plan of compliance.
The Notice is a formal notification from Nasdaq that the Nasdaq Hearings Panel will consider these matters in connection with the Company's pending appeal of the Delisting determination regarding the Company's continued listing on The Nasdaq Global Market. As disclosed in the Company's Form 6-K dated April 30, 2026, Maxeon requested a hearing before the Nasdaq Hearings Panel to appeal the determination by the Staff on the Delisting. Such hearing is scheduled to be held on June 4, 2026. There can be no assurance as to the outcome of the hearing or the Company's continued listing status.
About Maxeon Solar Technologies?
Maxeon Solar Technologies is Powering Positive Change. Headquartered in?Singapore, Maxeon leverages 40 years of solar energy leadership and over 2,000 granted patents to design innovative and sustainably made solar panels and energy solutions for residential, commercial, and power plant customers. For more information about how Maxeon is Powering Positive Change visit us at?www.maxeon.com, and on?LinkedIn.?
Forward-Looking Statements?
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding our future plans and areas of focus, our positioning and business plans for future success, and our positioning to enforce patent rights. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance, or achievement to materially differ from those expressed or implied by these forward-looking statements. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission ("SEC") from time to time, including our most recent report on Form 20-F, particularly under the heading "Item 3.D. Risk Factors."
All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
©2026 Maxeon Solar Technologies, Ltd. (Under Judicial Management) All Rights Reserved.
Media Contact:
Forrest Monroy - forrest.monroy@maxeon.com
SOURCE: Maxeon Solar Technologies, Ltd.
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https://www.accessnewswire.com/newsroom/en/clean-technology/maxeon-provides-update-on-nasdaq-delisting-notice-1172853
