Maxeon Receives Nasdaq Notification and is Proceeding with Approved Reverse Stock Split

SINGAPORE, Sept. 20, 2024 /PRNewswire/ -- Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) (the "Company"), a global leader in solar innovation and channels, announced that on September 17, 2024, it received a Staff Determination letter (the "Determination Letter") from the staff of the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company of the Staff's determination to delist the Company's securities from The Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii) because, as of September 16, 2024, the Company's securities had a closing bid price of $0.10 or less for ten consecutive trading days.

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