Maxeon Solar Technologies Files 6-K Report

TL;DR

Maxeon Solar (MAXN) filed a 6-K, standard foreign issuer report. No major news.

AI Summary

Maxeon Solar Technologies, Ltd. filed a Form 6-K on November 4, 2024. The filing indicates that the company is a foreign private issuer and is submitting its report under Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934. The company's principal executive office is located in Singapore.

Why It Matters

This filing is a routine report for foreign private issuers, providing an update on the company's regulatory status and administrative information.

Risk Assessment

Risk Level: low — This filing is a routine administrative report and does not contain new financial or operational information that would typically impact risk.

Key Numbers

• 001-39368 — Commission File Number (Identifies the company's filing with the SEC.)

Key Players & Entities

• Maxeon Solar Technologies, Ltd. (company) — Registrant
• 001-39368 (dollar_amount) — Commission File Number
• November 4, 2024 (date) — Filing Date
• Singapore (location) — Principal Executive Office Location

FAQ

From the Filing

0001796898-24-000081.txt : 20241104 0001796898-24-000081.hdr.sgml : 20241104 20241104060510 ACCESSION NUMBER: 0001796898-24-000081 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20241104 FILED AS OF DATE: 20241104 DATE AS OF CHANGE: 20241104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Maxeon Solar Technologies, Ltd. CENTRAL INDEX KEY: 0001796898 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: U0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39368 FILM NUMBER: 241420562 BUSINESS ADDRESS: STREET 1: 8 MARINA BOULEVARD #05-02 STREET 2: MARINA BAY FINANCIAL CENTRE CITY: MARINA BAY STATE: U0 ZIP: 018981 BUSINESS PHONE: 408.457.2302 MAIL ADDRESS: STREET 1: 8 MARINA BOULEVARD #05-02 STREET 2: MARINA BAY FINANCIAL CENTRE CITY: MARINA BAY STATE: U0 ZIP: 018981 FORMER COMPANY: FORMER CONFORMED NAME: Maxeon Solar Technologies, Pte. Ltd. DATE OF NAME CHANGE: 20191213 6-K 1 a20241104form6-knasdaq.htm 6-K Document 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 of the Securities Exchange Act of 1934 Date of Report: November 2024 Commission File Number: 001-39368 MAXEON SOLAR TECHNOLOGIES, LTD. (Exact Name of registrant as specified in its charter) 8 Marina Boulevard #05-02 Marina Bay Financial Centre 018981, Singapore (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): ☐ INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K Regained Compliance with Nasdaq Listing Rule 5550(a)(2) On October 29, 2024, Maxeon Solar Technologies, Ltd. (the “Company”) received a letter from Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the staff of the Nasdaq Listing Qualifications Department has determined that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2). As a result, a hearing scheduled for November 7, 2024 has been cancelled and the Company’s securities will continue to be listed and traded on the Nasdaq Global Select Market. As previously reported, on September 17, 2024, the Company received a Staff Determination Letter (the “Staff Determination Letter”) from the staff of the Nasdaq Listing Qualifications Department notifying the Company that its securities would be delisted from the Nasdaq Global Select Market because the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days as of September 16, 2024. On September 20, 2024, the Company announced that it had submitted a hearing request to Nasdaq which automatically stayed the delisting process during the pendency of the hearing, which was scheduled for November 7, 2024. Subsequent to the receipt of the Staff Determination Letter, the Company executed a 1-for-100 reverse stock split, (the “Reverse Stock Split”), which has caused the trading price of the Company’s ordinary shares to exceed the minimum bid price requirement set forth by Nasdaq Listing Rule 5550(a)(2) since the Company’s ordinary shares started trading on a post-Reverse Stock Split basis. 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. 333-271971), Form F-3 (File No. 333-265253), Form F-3 (File No. 333-268309), Form S-8 (File No. 333-277501) and Form S-8 (File No. 333-2