Semilux (SELX) hit with Nasdaq delisting move on price, equity and filing gaps

Rhea-AI Filing Summary

Semilux International Ltd. reports that Nasdaq has moved to delist its shares from The Nasdaq Capital Market after the company failed to regain compliance with the minimum $1.00 bid price requirement under Nasdaq Listing Rule 5550(a)(2) by May 11, 2026. The company is also not eligible for an additional 180‑day grace period because it does not meet the $5,000,000 minimum stockholders’ equity requirement for initial listing.

Nasdaq further cited Semilux’s failure to file its Form 20-F for the year ended December 31, 2025 as an additional basis for delisting and stated that, absent an appeal, trading will be suspended at the opening of business on May 26, 2026 and a Form 25-NSE will be filed. Semilux plans to timely request a hearing before the Nasdaq Hearings Panel, seek a stay of any suspension, and submit a compliance plan, but there is no assurance the panel will grant additional time or that full compliance will be regained.

Positive

• None.

Negative

• Nasdaq delisting process initiated: Nasdaq has determined to delist Semilux’s securities after it failed to regain compliance with the $1.00 minimum bid price rule within the 180‑day grace period.
• Equity and reporting deficiencies: The company does not currently meet the $5,000,000 minimum stockholders’ equity requirement for an additional compliance period and has not filed its Form 20-F for the year ended December 31, 2025, providing an additional basis for delisting.
• Trading suspension risk: Unless Semilux successfully appeals, its securities are scheduled to be suspended from trading on May 26, 2026, after which Nasdaq plans to file a Form 25-NSE to remove the listing.

Insights

Equity markets and listing standards analyst

Nasdaq has initiated delisting of Semilux over price, equity and filing issues.

Semilux International Ltd. now faces potential removal from The Nasdaq Capital Market because its share price stayed below $1.00 for 30 consecutive business days and it did not restore compliance within the 180‑day window ending May 11, 2026. It also does not meet Nasdaq’s $5,000,000 minimum stockholders’ equity standard for an additional grace period.

Nasdaq highlighted another concern: the company has not filed its Form 20-F for the fiscal year ended December 31, 2025, which is a separate ground for delisting. If Semilux does not successfully appeal, trading is set to be suspended on May 26, 2026, followed by a Form 25-NSE to remove the listing.

Semilux intends to request a hearing before the Nasdaq Hearings Panel, ask for a stay of suspension, and present a plan to address bid price, stockholders’ equity, and its delayed Form 20-F. Actual outcomes will depend on the panel’s decision and the company’s progress in resolving these deficiencies.

Key Figures

Minimum bid price threshold: $1.00 per share Low-price period: 30 consecutive business days Initial compliance window: 180 calendar days +5 more

8 metrics

Minimum bid price threshold $1.00 per share Nasdaq Listing Rule 5550(a)(2) requirement

Low-price period 30 consecutive business days Period bid price stayed below $1.00

Initial compliance window 180 calendar days Grace period ending May 11, 2026

Equity requirement $5,000,000 stockholders’ equity Nasdaq Capital Market initial listing standard

Compliance deadline May 11, 2026 Deadline to regain bid price compliance

Planned trading suspension date May 26, 2026 Scheduled suspension if no successful appeal

Fiscal year-end for missing filing December 31, 2025 Form 20-F not yet filed

Staff Determination Letter date May 15, 2026 Date of Nasdaq’s delisting notice

Key Terms

Nasdaq Listing Rule 5550(a)(2), Form 20-F, Form 25-NSE, Nasdaq Capital Market, +1 more

5 terms

Nasdaq Listing Rule 5550(a)(2) regulatory

"the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2)"

Form 20-F regulatory

"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-NSE regulatory

"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 Capital Market financial

"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.

Nasdaq Hearings Panel regulatory

"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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

Why is Semilux International Ltd. (SELX) facing Nasdaq delisting?

Semilux is facing Nasdaq delisting because its share price stayed below the $1.00 minimum bid requirement for 30 consecutive business days and it did not regain compliance by May 11, 2026. Nasdaq also cited inadequate stockholders’ equity and a missing 2025 Form 20-F filing.

What Nasdaq listing rules has Semilux International Ltd. (SELX) violated?

Semilux is not in compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum $1.00 bid price for its securities. Nasdaq also noted that the company does not meet the $5,000,000 minimum stockholders’ equity initial listing requirement and has not filed its 2025 Form 20-F.

When could Semilux International Ltd. (SELX) be suspended from Nasdaq trading?

Nasdaq indicated Semilux’s securities will be suspended from trading at the opening of business on May 26, 2026 unless the company requests and obtains a stay. Following suspension, Nasdaq plans to file Form 25-NSE to formally remove the listing from The Nasdaq Capital Market.

How is Semilux International Ltd. (SELX) responding to Nasdaq’s delisting notice?

Semilux intends to timely request a hearing before the Nasdaq Hearings Panel and seek an extended stay of any trading suspension. It is working on a compliance plan addressing bid price, stockholders’ equity, and the late Form 20-F filing for the year ended December 31, 2025.

Does Semilux International Ltd. (SELX) have any assurance it will remain on Nasdaq?

There is no assurance Semilux will remain listed on Nasdaq. The company plans to present its case and a compliance plan to the Nasdaq Hearings Panel, but the panel may deny a continued stay or exception period if it is not convinced Semilux can meet all listing requirements.

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-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission File Number: 001-41965

Semilux International Ltd.

(Registrant’s Name)

4F., No. 32, Keya Rd., Daya Dist.

Central Taiwan Science Park

Taichung City 42881

Taiwan

(Address of Principal Executive Offices)

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

Form 20-F ☒         Form 40-F ☐

Receipt of Nasdaq Staff Determination Letter and Intention to Request Hearing

On May 19, 2026, Semilux International Ltd. (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. 

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SIGNATURE

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.

	Semilux International Ltd.
Date: May 22, 2026	By:	/s/ Yung-Peng Chang
	Name:	Yung-Peng Chang
	Title:	Chief Executive Officer

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