Key Highlights

● Maxeon entered interim judicial management on April 9, 2026 after a voluntary application to the Singapore High Court.

● Nasdaq notified Maxeon of a delisting determination on April 24, 2026 and suspended trading on May 1, 2026.

● Later reporting indicates Nasdaq decided on September 17, 2026 to delist the shares, effective about ten days after Form 25.

● Fiscal 2024 Revenue was $509.05 million, down from $1.12 billion, with a net loss of $614.30 million.

Maxeon Solar Technologies, Ltd. (OTC:MAXNQ) no longer has a Nasdaq listing, which explains its code on the over-the-counter market. The Singapore-headquartered solar manufacturer entered interim judicial management in April 2026, and Nasdaq moved to remove its ordinary shares from the exchange. The final letter in the symbol is the usual marker for an issuer in an Insolvency process, although the exact OTC tier is not confirmed.

Business and sector

Maxeon designs and markets photovoltaic modules, and its company materials stress back contact cell technology. It was founded in 2019 and is listed by data providers in the solar industry of the technology sector, with a reported workforce of around 1,600 people. Its November 2024 announcements described a strategic shift to focus exclusively on the United States market.

Patents have been central to the story. In December 2025 Maxeon expanded infringement actions with a new suit in Munich against AIKO and European distributors. On February 6, 2026 the company then announced a Patent licensing agreement with AIKO covering back contact technology. A data provider also reports that U.S. patent litigation against Canadian Solar was resolved in the latter's favour, though the date of that outcome is not independently confirmed.

Judicial management and delisting timeline

According to the company's media room, the company was placed under interim judicial management on April 9, 2026 after a voluntary application to the Singapore High Court under the Insolvency, Restructuring and Dissolution Act. On April 24, 2026 Nasdaq notified the company of a delisting determination linked to that status. Trading on Nasdaq was suspended on May 1, 2026, and the company requested a hearing before the Nasdaq Hearings Panel.

A further company update on June 2, 2026 addressed the delisting notice. Later reporting indicates Nasdaq formally decided on September 17, 2026 to delist the ordinary shares, with the removal expected to take effect about ten days after Nasdaq files Form 25 with the U.S. Securities and Exchange Commission.

Financial performance

Figures from market data show revenue of $509.05 million for fiscal 2024, down from $1.12 billion a year earlier, alongside a net loss of $614.30 million. Trailing twelve-month revenue is shown at $176.41 million, a fall of 78.7% year on year, and trailing Net Income at a loss of $611.27 million. These are third-party aggregations in U.S. dollars, and the trailing periods are not matched to a filed statement.

Market data characterises the financial picture as very weak, citing declining revenue, sustained losses, Negative cash flow and negative equity. The reported Market Capitalisation of roughly $3,400 reflects a share price quoted at fractions of a cent, so any quoted valuation reflects residual trading rather than the underlying assets.

Creditor Priority and the Form 25 Date Decide What Maxeon Equity Holds

The central risk is that equity holders may recover little or nothing in a judicial management or any restructuring that follows, because creditors rank ahead of shareholders. Liquidity on the over-the-counter market is thin, spreads can be wide, and a loss of SEC registration after delisting could reduce the information available to investors.

Three items matter. First, the Form 25 filing and the date delisting takes effect. Second, any Form 6-K reports describing the judicial managers' plans, asset sales or creditor proposals. Third, the status of the AIKO licence and remaining patent cases, which are among the few identifiable Assets of value.