Maxeon Solar Technologies has approved a 1-for-100 reverse stock split, effective October 8, 2024, to meet Nasdaq's $1 minimum bid requirement. The split will reduce outstanding shares from 1.529B to approximately 15M, with trading on a split-adjusted basis beginning October 9, 2024.The reverse split will not affect shareholders' ownership percentages or modify voting rights, except for fractional shares which will be aggregated, sold, and proceeds distributed pro-rata. Outstanding warrants, convertible notes, and equity-based awards will be proportionately adjusted. The company's stock will continue trading under the symbol "MAXN" with a new CUSIP number: Y58473128.Shareholders with book-entry shares or those held through brokers need not take action. The split aims to maintain Maxeon's listing on the Nasdaq Global Select Market, with no direct impact on market capitalization intended.

Maxeon Solar Technologies has approved a 1-for-100 reverse stock split, effective October 8, 2024, to meet Nasdaq's $1 minimum bid requirement. The split will reduce outstanding shares from 1.529B to approximately 15M, with trading on a split-adjusted basis beginning October 9, 2024.The reverse split will not affect shareholders' ownership percentages or modify voting rights, except for fractional shares which will be aggregated, sold, and proceeds distributed pro-rata. Outstanding warrants, convertible notes, and equity-based awards will be proportionately adjusted. The company's stock will continue trading under the symbol "MAXN" with a new CUSIP number: Y58473128.Shareholders with book-entry shares or those held through brokers need not take action. The split aims to maintain Maxeon's listing on the Nasdaq Global Select Market, with no direct impact on market capitalization intended.