NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (\u201cNYSE\u201d, the \u201cExchange\u201d) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the warrants (\u201cWarrants\u201d) \u2014 ticker symbol VLNW \u2014 each warrant to purchase one-half of one ordinary share of Valens Semiconductor Ltd. (the \u201cCompany\u201d) from the NYSE. Trading in these Warrants on the NYSE will be suspended immediately. Trading in the Company\u2019s ordinary shares\u2014 ticker symbol VLN \u2014 will continue on the NYSE.<\/p>
\nNYSE Regulation has determined that the Company\u2019s Warrants are no longer suitable for listing based on \u201cabnormally low selling price\u201d levels, pursuant to Section 802.01D of the Listed Company Manual.<\/p>
\nThe Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the U.S. Securities and Exchange Commission to delist the Company\u2019s Warrants upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff\u2019s decision.<\/p>
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