Light & Wonder Announces Update on Nasdaq Delisting Timetable
Light & Wonder, Inc. is providing an update regarding its previously announced intention to delist its common stock from the Nasdaq Stock Market (“Nasdaq”) and transition to a sole primary listing on the Australian Securities Exchange (“ASX”).
The Company confirms that delisting from Nasdaq is expected to take effect prior to open of trading on November 13, 2025 (EST)1.
Timetable and Key Dates2
- Form 25 notice of delisting filing with the SEC: Monday, November 3, 2025 (EST)
- Last day of trading on Nasdaq: Wednesday, November 12, 2025 (EST)
- Suspension of trading on Nasdaq: after the close of trading on Wednesday, November 12, 2025 (EST)
- Delisting effective: prior to open of trading on Nasdaq, Thursday, November 13, 2025 (EST)
- Commencement of trading on ASX on a sole primary basis: 10:00am AEDT, Friday, November 14, 2025
Rationale
The decision to transition to a sole ASX primary listing reflects Light & Wonder’s strategic focus on aligning our capital markets presence with our long-term growth plans and shareholder base. We are seeking to consolidate trading liquidity onto the ASX, a deep and liquid market that has a robust understanding of the gaming sector.
ASX Waivers and Confirmations
Light & Wonder continues to engage with the Nasdaq in relation to the delisting and with the ASX in relation to the transition to a primary listing. The conversion from an ASX Foreign Exempt Listing to an ASX Standard Listing, including the timetable thereof, remains subject to the ASX’s waivers and confirmation of various conditions.
Impact on existing shareholders on Nasdaq
Upon effectiveness of the delisting from Nasdaq, Light & Wonder shares of common stock (“Shares”) will no longer be tradeable on Nasdaq. The ASX will become the sole primary listing for Light & Wonder CHESS Depositary Interests (“CDIs”), which represents a beneficial interest in Shares. CDIs confer beneficial ownership of the equivalent number of underlying Shares to the CDI holder, with the legal title to such Shares held in book entry uncertificated form by CHESS Depositary Nominees Pty Limited. If you wish to continue to trade your Shares on a centralized stock exchange, you will be required to transmute/convert your Shares into CDIs for trading on the ASX.
Other options for holders of Shares currently listed on Nasdaq are to:
1) Sell your Shares on Nasdaq on or prior to suspension of trading; or
2) Continue to hold your Shares following the delisting from Nasdaq, with such shares tradeable only on the over-the-counter (“OTC”) market
