Maxeon Solar Technologies (MAXN) has released an update.

Maxeon Solar Technologies has announced a reverse stock split of its ordinary shares at a 1-for-100 ratio to meet Nasdaq’s minimum bid requirement. The adjustment will be effective on October 8, 2024, reducing the total number of outstanding shares and ensuring proportional adjustments to warrants, convertible notes, and equity-based awards. Shareholders will not be required to take action as the changes will be automatically reflected in their accounts.

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