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Nasdaq delisting threat looms as Maxeon (NASDAQ: MAXN) fights for listing

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Maxeon Solar Technologies, which is under interim judicial management, has asked the Nasdaq Hearings Panel for a hearing to appeal Nasdaq staff’s determination that its securities will be delisted from The Nasdaq Stock Market. The company also reiterates extensive forward-looking risk factors around its restructuring, liquidity, indebtedness, supply chain, litigation and market conditions, and incorporates this information by reference into multiple existing registration statements.

Positive

  • None.

Negative

  • Heightened listing and restructuring risk: Maxeon is under interim judicial management and is appealing a Nasdaq staff determination to delist its securities, while also disclosing extensive risks relating to liquidity, substantial indebtedness, regulatory disputes, supply chain disruptions and geopolitical events.

Insights

Maxeon faces Nasdaq delisting risk while navigating judicial management and liquidity pressures.

Maxeon Solar Technologies has requested a hearing before the Nasdaq Hearings Panel to appeal a staff determination that its securities be delisted. This places its U.S. listing status in question while the business is already under interim judicial management.

The company highlights numerous risks, including challenges in achieving judicial management goals, substantial indebtedness and liquidity constraints, regulatory issues, supply chain disruption, geopolitical conflicts and adverse outcomes from customs and other litigation. These factors collectively underscore significant operational and financial uncertainty around its ongoing restructuring.

The outcome of the Nasdaq appeal and progress on judicial management and restructuring, as discussed in this report and its most recent Form 20-F, will be central to assessing future access to capital markets and overall business stability.

judicial management financial
"including, statements regarding judicial management, restructuring of our business portfolio"
Nasdaq Hearings Panel financial
"has requested a hearing before the Nasdaq Hearings Panel to appeal"
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.
forward-looking statements financial
"This report on Form 6-K contains forward-looking statements within the meaning"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
liquidity financial
"our liquidity, substantial indebtedness, terms and conditions upon which our indebtedness is incurred"
Liquidity is how easily and quickly an asset or investment can be converted into cash without losing value. It matters to investors because higher liquidity means they can access their money quickly if needed, while lower liquidity can make it harder to sell assets promptly or at a fair price, potentially creating financial challenges. Think of it like trying to sell a common item versus a rare collectible—it's much easier to sell the common item fast.
Form 20-F financial
"including our most recent report on Form 20-F, particularly under the heading"
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.

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16b n

of the Securities Exchange Act of 1934

 

Date of Report: April 2026

 

Commission File Number: 001-39368

 

 

MAXEON SOLAR TECHNOLOGIES, LTD.

(UNDER INTERIM JUDICIAL MANAGEMENT)

(Exact Name of registrant as specified in its charter)

 

 

38 Beach Road #23-11

South Beach Tower

Singapore 189767

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F Form 40-F

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule

101(b)(7):

 

 

 


 

Appeal of Nasdaq Delisting Notice

 

Maxeon Solar Technologies Ltd. (Under Interim Judicial Management) (NASDAQ: MAXN) (the “Company”) has requested a hearing before the Nasdaq Hearings Panel to appeal the determination by the staff of Nasdaq’s Listing Qualifications department (the “Staff”) that the Company’s securities will be delisted from The Nasdaq Stock Market LLC (“Nasdaq”). For more information on the written notice received from the Staff with respect to this determination, refer to the Form 6-K submitted by the Company to the Securities and Exchange Commission (the “SEC”) on April 27, 2026.

_____________________________________________________________________________________________

Incorporation by Reference

 

The information contained in this report is hereby incorporated by reference into the Company’s registration statements on Form F-3 (File No. 333-268309), Form S-8 (File No. 333-241709), Form S-8 (File No. 333-277501), Form S-8 (File No. 333-283187), and Form S-8 ( File No. 333-290336) each filed with the Securities and Exchange Commission (the “SEC)

 

Forward-Looking Statements
 

This report on Form 6-K 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, as amended, including, statements regarding judicial management, restructuring of our business portfolio and our strategic plans, including the ability to achieve the statutory purposes of judicial management.

 

Additional forward-looking statements can be identified by terminology such as "may," "might," "could," "will," "aims," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. 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. These statements are not guarantees of future performance and are subject to a number of risks. The reader should not place undue reliance on these forward-looking statements, as there can be no assurances that the plans, initiatives or expectations upon which they are based will occur. Factors that could cause or contribute to such differences include, but are not limited to: (1) challenges in achieving the statutory purposes of judicial management; (2) the further development of MAX8 Technology and strategic partnerships, executing other restructuring plans, regulatory and other challenges that may arise; (3) our liquidity, substantial indebtedness, terms and conditions upon which our indebtedness is incurred, and ability to obtain additional financing for our projects, customers and operations; (4) an adverse final determination of our legal action contesting U.S. Customs & Border Protection’s (CBP) decision denying the Company’s protests regarding the detained shipments of Maxeon 3, Maxeon 6, and Performance 6 solar panel; (5) our ability to manage supply chain shortages and/or excess inventory and cost increases and operating expenses; (6) potential disruptions to our operations and supply chain that may result from damage or destruction of facilities operated by our suppliers, difficulties in hiring or retaining key personnel, epidemics, natural disasters, including impacts of the war in Ukraine and Iran; (7) our ability to manage our key customers and suppliers; (8) the success of our ongoing research and development efforts and our ability to commercialize new products and services, including products and services developed through strategic partnerships; (9) competition in the solar and general energy industry and downward pressure on selling prices and wholesale energy pricing, including impacts of inflation, economic recession and foreign exchange rates upon customer demand; (10) changes in regulation and public policy, including the imposition and applicability of tariffs; (11) our ability to comply with various tax holiday requirements as well as regulatory changes or findings affecting the availability of economic incentives promoting use of solar energy and availability of tax incentives or imposition of tax duties; (12) fluctuations in our operating results and in the foreign currencies in which we operate; (13) appropriately sizing, or delays in establishing alternative manufacturing capacity and containing manufacturing and logistics difficulties that could arise; (14) unanticipated impact to customer demand and sales schedules due, among other factors, to the war in Ukraine and Iran, and conflicts in the Middle East, economic recession and environmental disasters; (15) reaction by securities or industry analysts to our results of operations or other factors, and/ or third party reports or publications, whether accurate or not, which may cause such securities or industry analysts to cease publishing research or reports about us, or adversely change their recommendations regarding our ordinary shares, which may negatively impact the market price of our ordinary shares and volume of our stock trading; and (16) unpredictable outcomes resulting from


 

our litigation activities or other disputes. 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 “Risk Factors”. Copies of these filings are available online from the SEC at www.sec.gov, or on the SEC Filings section of our Investor Relations website at https://corp.maxeon.com/investor-relations. 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.

 

 


 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MAXEON SOLAR TECHNOLOGIES, LTD.
(Registrant)

 

 

 

 

April 30, 2026

 

 

 

By: /s/ Tan Wei Cheong

 

 

 

 

 

 

 

 

 

Tan Wei Cheong

 

 

 

 

 

 

 

Joint and Several Interim Judicial Manager

 

 


FAQ

What did Maxeon Solar Technologies (MAXN) disclose in this Form 6-K?

Maxeon Solar Technologies disclosed that it has requested a hearing before the Nasdaq Hearings Panel to appeal Nasdaq staff’s determination to delist its securities. The report also reiterates extensive forward-looking risk factors tied to its judicial management, restructuring, liquidity, debt and operating environment.

Why is Maxeon Solar Technologies (MAXN) facing potential Nasdaq delisting?

Nasdaq’s Listing Qualifications staff determined that Maxeon’s securities will be delisted from The Nasdaq Stock Market. In response, the company requested a hearing before the Nasdaq Hearings Panel to appeal this determination, with further background referenced in a prior Form 6-K filed on April 27, 2026.

What does it mean that Maxeon Solar Technologies is under judicial management?

Maxeon states it is under interim judicial management, a court-supervised process intended to restructure its business and address financial distress. The company warns that achieving the statutory purposes of judicial management is uncertain and lists this as a key forward-looking risk for its operations and stakeholders.

What key risks around liquidity and debt does Maxeon (MAXN) highlight?

Maxeon cites risks relating to its liquidity position, substantial indebtedness and the terms and conditions of that debt. It also notes uncertainty around its ability to obtain additional financing for projects, customers and operations, framing these factors as significant uncertainties that could materially affect performance and restructuring efforts.

How do supply chain and geopolitical issues affect Maxeon Solar Technologies?

Maxeon warns about potential supply chain shortages, excess inventory, cost increases and operating expenses. It also cites possible disruptions from damage to supplier facilities, hiring difficulties, epidemics and natural disasters, plus impacts from the war in Ukraine, Iran and Middle East conflicts on customer demand and sales schedules.

Where can investors find more detailed risk information about Maxeon (MAXN)?

Maxeon refers readers to its filings with the U.S. Securities and Exchange Commission, especially its most recent Form 20-F under “Risk Factors.” These filings, available on the SEC’s website and the company’s investor relations site, provide detailed discussions of business, financial and regulatory risks.