[6-K] Maxeon Solar Technologies, Ltd. Current Report (Foreign Issuer)
Rhea-AI Filing Summary
Maxeon Solar Technologies, Ltd. (Under Judicial Management) reports that Nasdaq staff has identified additional, separate bases to delist its securities from The Nasdaq Global Market. The company’s shares were already suspended from Nasdaq and moved to the over-the-counter market on May 1, 2026.
Nasdaq staff now cites the absence of independent board members on Maxeon’s Audit Committee, for which no cure period applies and for which the company is ineligible to submit a compliance plan under Listing Rule 5810(c)(2)(a). Staff also notes that Maxeon has not filed its Form 20-F for the period ended December 31, 2025, breaching continued listing requirements and again leaving it ineligible to submit a compliance plan.
The notice will be considered by a Nasdaq Hearings Panel in deciding whether Maxeon can retain its Nasdaq listing, following the company’s previously requested appeal hearing scheduled for June 4, 2026.
Positive
- None.
Negative
- None.
Insights
Maxeon faces heightened Nasdaq delisting risk due to governance and reporting non-compliance.
Maxeon Solar Technologies discloses that Nasdaq staff has found new, independent grounds to delist its shares. These include a non-compliant Audit Committee with no independent board members, and failure to file Form 20-F for the period ended December 31, 2025.
Because a delisting determination already exists, Nasdaq Listing Rule 5810(c)(2)(a) makes the company ineligible to submit plans of compliance for both issues. This removes a common pathway companies use to regain good standing, leaving the outcome more dependent on the upcoming Nasdaq Hearings Panel review.
The shares are already trading over-the-counter after suspension from The Nasdaq Global Market. The panel hearing scheduled for June 4, 2026 is the key procedural step that will determine whether the listing can be maintained or whether full delisting from Nasdaq proceeds.