The warrant delisting is a final step in SES AI's exit from NYSE; expect all trading to shift to OTC markets. Monitor for a potential reverse stock split or going-private transaction as the company attempts to regain compliance or restructure.
Price Chart
Executive Summary
The New York Stock Exchange filed a Form 25-NSE to delist SES AI Corp's warrants (exercisable for Class A common at $11.50/share) effective September 11, 2026, due to an 'abnormally low selling price' under NYSE Section 802.01D. Trading in the warrants was suspended on August 13, 2026, and the company did not appeal the delisting determination. This follows a prior NYSE delisting notice for the common stock on July 17, 2026, signaling severe financial distress and a likely transition to OTC trading for all securities.
Key Facts
- NYSE filed to delist SES AI warrants effective September 11, 2026, due to abnormally low selling price.
- Warrant trading was suspended on August 13, 2026; company did not appeal.
- This follows a prior NYSE delisting notice for the common stock on July 17, 2026.
- Warrants are exercisable for Class A common stock at $11.50 per share.
Financial Impact
Warrant delisting eliminates a key equity-linked security; common stock already under delisting notice with $194M market cap on OTC.
Risk Factors
- Complete loss of NYSE listing for both common and warrants reduces liquidity and institutional access.
- No appeal filed suggests management may not prioritize exchange listing, increasing bankruptcy or restructuring risk.
- Warrants are now worthless as a listed instrument; holders face total loss of liquidity.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 25-NSE Filing (Primary) | 0000876661-26-000716 |
| Document: 0000876661-26-000716-index.html | 0000876661-26-000716 |
| Document: 0000876661-26-000716.txt | 0000876661-26-000716 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 8w ago | 25-NSE | $0.5197 $0.5695 | ▼ −9.58% | ▼ −9.72% | $0.6430 (−23.73%) |
Jul 20, 2026 14w ago | 8-K | $0.5822 $0.5032 | ▲ +13.57% | ▲ +13.14% | $0.6430 (−10.44%) |
Apr 23, 2026 26w ago | 8-K | $0.3000 $0.0283 | ▼ −90.57% | ▼ −91.68% | $0.6430 (+114.33%) |
Apr 1, 2026 29w ago | 8-K | — | awaiting T+5 | — | — |
Mar 4, 2026 33w ago | 8-K | $1.08 $1.22 | ▲ +12.96% | ▲ +15.20% | $0.6430 (−40.46%) |
US Market Status
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