Maxeon Solar Technologies, Ltd.

Maxeon Solar Technologies, Ltd. received a further written notice from Nasdaq on May 26, 2026, outlining additional and separate bases for delisting its securities. These new reasons include the company's lack of independent board members on its Audit Committee and its failure to file the Form 20-F for the period ended December 31, 2025. The company's securities were already suspended from Nasdaq on May 1, 2026, and moved to the over-the-counter market following an earlier delisting determination. A hearing before the Nasdaq Hearings Panel to appeal the delisting is scheduled for June 4, 2026.

Maxeon Solar Pte. Ltd., currently under interim judicial management, has entered into a non-exclusive IP License Agreement with Zhonghuan Hong Kong Holding Limited. This agreement grants Zhonghuan Hong Kong the rights to manufacture, use, sell, and transfer Licensed Products globally under Maxeon's intellectual property. Maxeon received an $8 million license fee, and the agreement has an initial term of six years with provisions for automatic renewals. The terms ensure the continuation of licenses even if Maxeon faces a change of control or insolvency event, and include rights of first refusal and last look for Zhonghuan Hong Kong on future IP sales.

Maxeon Solar Technologies, Ltd. announced that the High Court of Singapore has scheduled May 29, 2026, as the hearing date for its voluntary judicial management applications. The company and its subsidiary were placed under interim judicial management on April 9, 2026. Concurrently, three independent directors—Don Colvin, Steve Leonard, and Dr. Teo Tong Kooi—resigned from the Board of Directors between May 5 and May 7, 2026, with immediate effect. The interim judicial managers are currently considering the appointment of replacement independent directors.

Maxeon Solar Technologies, Ltd. (MAXN) has filed a Form 6-K discussing forward-looking statements related to its ongoing judicial management and restructuring of its business portfolio. The company highlights significant risks, including challenges in achieving the statutory purposes of judicial management, issues with liquidity and indebtedness, and an adverse final determination of its legal action against U.S. Customs & Border Protection regarding detained shipments. MAXN also notes potential disruptions from supply chain issues, geopolitical events, economic recession, and intense market competition.

Maxeon Solar Technologies, Ltd. (MAXN) filed a Form 6-K detailing forward-looking statements regarding judicial management and restructuring of its business portfolio. The company highlighted substantial risks and uncertainties that could materially affect its results, performance, or achievements. Key risks include challenges in achieving statutory purposes of judicial management, liquidity issues, legal actions, supply chain disruptions, competition, and regulatory changes.

Maxeon Solar Technologies, Ltd. announced that George Guo, its Chief Executive Officer and a director, submitted his resignation, effective May 25, 2026. The company, which was previously placed under interim judicial management on April 9, 2026, is currently reviewing Mr. Guo's resignation notice.