SemiLux International (Nasdaq: SELX) received a Nasdaq Staff Determination Letter dated May 15, 2026 stating Nasdaq has determined to delist its securities for non-compliance with Listing Rule 5550(a)(2) and other requirements.
The company plans to request a hearing and stay, but continued listing is uncertain.
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Positive
Company intends to request Nasdaq hearing and seek stay of suspension
Company actively working on bid price, stockholders’ equity, and Form 20-F issues
Company plans to submit a detailed compliance plan to Nasdaq Panel
Negative
Nasdaq staff determination to delist SELX from Nasdaq Capital Market
Failure to regain $1.00 minimum bid price by May 11, 2026
Ineligibility for second 180-day compliance period due to <$5,000,000 equity
Non-filing of Form 20-F for year ended December 31, 2025
Potential trading suspension on May 26, 2026 if no appeal is granted
No assurance of Panel granting stay or regaining full Nasdaq compliance
News Market Reaction – SELX
+6.19%
5 alerts
+6.19%Session close to close
-21.5%Trough in 56 min
$12.57MMarket Cap
0.3xRel. Volume
In the May 22 session, SELX gained 6.19%, reflecting a notable positive market reaction.
Argus tracked a trough of -21.5% from its starting point during tracking.
Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility.
The stock moved +6.2% in the session following this news. A strong positive reaction aligns with a d...
Analysis
The stock moved +6.2% in the session following this news. A strong positive reaction aligns with a deeply depressed setup, with SELX trading at 0.273 versus a 0.7 200-day MA and 83.75% below its 1.68 52-week high before this news. However, the Nasdaq Staff Determination Letter highlights multiple compliance failures, including bid price, equity, and a missing 2025 Form 20-F. Historically, SELX has sometimes risen on negative Nasdaq notices, but delisting risk and execution on any compliance plan would remain key overhangs.
Key Figures
Minimum bid price:$1.00 per shareNon-compliance period:30 consecutive business daysCompliance window:180 calendar days+5 more
8 metrics
Minimum bid price$1.00 per shareNasdaq Listing Rule 5550(a)(2) threshold
Non-compliance period30 consecutive business daysBid price closed below $1.00
Compliance window180 calendar daysPeriod to regain bid-price compliance ending May 11, 2026
Equity requirement$5,000,000Minimum stockholders’ equity for Nasdaq Capital Market
Delisting suspension dateMay 26, 2026Nasdaq suspension if no appeal is requested
Determination letter dateMay 15, 2026Date of Nasdaq Staff Determination Letter
Notice received dateMay 19, 2026Company receipt of Nasdaq Staff Determination Letter
Filing deadlineForm 20-F for FY 2025Non-filing cited as additional delisting basis
Nasdaq cited MVLS below $35M minimum and gave 180 days to cure.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Prior Nasdaq non-compliance notice in Jan 2026 saw a slight positive price reaction despite negative implications, similar to today’s divergence between adverse listing news and a modest price gain.
Recent Company History
Recent disclosures show a company under sustained Nasdaq compliance pressure. On Jan 8, 2026, SELX reported MVLS falling below the $35 million minimum from Nov 13–Dec 30, 2025, triggering a 180-day window through June 29, 2026 to regain compliance. That notice followed earlier bid-price non-compliance disclosed in Nov 2025. Against this backdrop, today’s Staff Determination Letter escalates risk by tying together bid-price, equity thresholds, and a late 2025 Form 20-F filing.
Key Terms
nasdaq capital market, form 20-f, form 25-nse, nasdaq hearings panel, +1 more
5 terms
nasdaq capital marketregulatory
"to delist the Company’s securities from The Nasdaq Capital Market"
The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.
form 20-fregulatory
"has not filed its Form 20-F for the fiscal year ended December 31, 2025"
Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.
form 25-nseregulatory
"Nasdaq will file a Form 25-NSE with the U.S. Securities and Exchange Commission"
Form 25‑NSE is an official filing used to notify the stock exchange that a company’s securities are being removed from trading on that exchange, similar to handing in a key when a shop closes. Investors care because removal ends public trading on that venue, often cutting liquidity and making it harder to buy or sell shares, which can affect a stock’s price and how quickly investors can access cash or exit positions.
nasdaq hearings panelregulatory
"request a hearing before the Nasdaq Hearings Panel (the “Panel”)"
A Nasdaq hearings panel is a group of experts that reviews cases when a company's stock listing is at risk of being removed from the exchange. They evaluate whether the company has met certain standards and determine if it can keep trading on Nasdaq. This process matters to investors because it can affect a company's ability to raise money and maintain credibility in the market.
stockholders’ equityfinancial
"does not currently satisfy the $5,000,000 minimum stockholders’ equity"
Stockholders’ equity is the portion of a company’s value that belongs to its owners after subtracting what the company owes from what it owns — like the equity in a house after paying the mortgage. For investors it shows the company’s net worth and can indicate financial strength, a cushion against losses, and the amount potentially available to support dividends or reinvestment; tracking changes helps assess whether the business is building or eroding owner value.
Taipei, Taiwan, May 22, 2026 (GLOBE NEWSWIRE) -- SemiLux International Ltd. (Nasdaq: SELX) (the "Company") today announced that, on May 19, 2026, the Company received a Staff Determination Letter (the “Staff Determination Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated May 15, 2026, notifying the Company that Nasdaq has determined to delist the Company’s securities from The Nasdaq Capital Market unless the Company timely requests a hearing before the Nasdaq Hearings Panel.
As previously disclosed, on November 10, 2025, Nasdaq notified the Company that the bid price of the Company’s listed securities had closed below $1.00 per share for 30 consecutive business days and, as a result, the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2). The Company was provided 180 calendar days, or until May 11, 2026, to regain compliance with the rule.
According to the Staff Determination Letter, the Company did not regain compliance with Nasdaq Listing Rule 5550(a)(2) by May 11, 2026 and is not eligible for a second 180-day compliance period because the Company does not currently satisfy the $5,000,000 minimum stockholders’ equity initial listing requirement for The Nasdaq Capital Market. Nasdaq also stated that the Company has not filed its Form 20-F for the fiscal year ended December 31, 2025, which serves as an additional basis for delisting.
Nasdaq indicated that, unless the Company requests an appeal of the delisting determination, the Company’s securities will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on May 26, 2026. Nasdaq will file a Form 25-NSE with the U.S. Securities and Exchange Commission.
The Company intends to timely request a hearing before the Nasdaq Hearings Panel (the “Panel”) and to request an extended stay of any suspension pending the hearing and the Panel’s determination. There can be no assurance that the Panel will grant the Company’s request for a continued stay or that the Company will be able to regain compliance with all applicable Nasdaq listing requirements within any exception period that may be granted by the Panel.
The Company is actively working to address the matters identified by Nasdaq, including matters relating to bid price compliance, stockholders’ equity compliance, and the filing of its Form 20-F for the fiscal year ended December 31, 2025. The Company intends to provide Nasdaq with a compliance plan in connection with the hearing process.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the Company’s intention to request a hearing, seek an extended stay, submit a compliance plan, address Nasdaq listing deficiencies, complete its Form 20-F filing, and regain compliance with Nasdaq listing requirements. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.
About SemiLux International Ltd.
SemiLux International Ltd. is a technology company focused on optical sensing, imaging, AI-enabled systems, and related applications. For more information, please visit the Company’s website.
Why did Nasdaq issue a delisting determination for SemiLux (NASDAQ: SELX) in May 2026?
Nasdaq issued a delisting determination because SELX failed to regain compliance with the $1.00 minimum bid price and other listing standards. According to the company, SELX also does not meet the $5,000,000 stockholders’ equity requirement and has not filed its 2025 Form 20-F.
What Nasdaq listing rules is SemiLux (SELX) currently not complying with?
SemiLux is not complying with Nasdaq Listing Rule 5550(a)(2) requiring a $1.00 minimum bid price. According to the company, it also does not currently meet the $5,000,000 minimum stockholders’ equity initial listing requirement and has not filed its Form 20-F for 2025.
What happens to SemiLux (SELX) stock if the Nasdaq delisting proceeds on May 26, 2026?
If the delisting proceeds without a stay, SELX securities would be suspended from trading on the Nasdaq Capital Market on May 26, 2026. According to the company, Nasdaq would then file a Form 25-NSE with the SEC to complete the delisting process.
How is SemiLux International (SELX) responding to Nasdaq’s delisting notice?
SemiLux plans to timely request a hearing before the Nasdaq Hearings Panel and seek an extended stay of any suspension. According to the company, it is actively addressing bid price, stockholders’ equity, and Form 20-F filing issues and will submit a compliance plan.
Can SemiLux (NASDAQ: SELX) keep its Nasdaq listing after the May 2026 Staff Determination Letter?
Continued listing is uncertain and depends on the Nasdaq Hearings Panel’s decisions. According to the company, there is no assurance the Panel will grant a continued stay or that SemiLux will regain compliance with all applicable Nasdaq listing requirements within any exception period.
What deadline did SemiLux (SELX) miss for regaining Nasdaq bid price compliance?
SemiLux had until May 11, 2026 to regain compliance with the $1.00 minimum bid price after 180 calendar days. According to the company, it did not regain compliance by that date and is also not eligible for a second 180-day compliance period.
