---
schema_version: "secwatch.filing_event.v1"
accession: "0000950157-25-000949"
form_type: "8-K"
ticker: "LNWO"
cik: "0000750004"
company_name: "Light & Wonder, Inc."
filed_at: "2025-11-14T23:59:59+00:00"
generated_at: "2026-05-16T20:00:54.245643+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Light & Wonder delists from Nasdaq, adopts ASX-aligned bylaws, moves to sole ASX listing

## Summary
- Common stock delisted from Nasdaq on Nov 13, 2025, following Form 25 filed Nov 3, 2025.
- Deregistration under Section 12(b) expected 90 days after Form 25 (approx. Feb 2026).
- Board adopted Fourth Amended and Restated Bylaws effective Nov 13, 2025, to align with ASX listing rules.
- Bylaw changes include voting standard modifications, uncertificated shares, and exclusive forum conforming to Nevada law.
- Transition from dual Nasdaq/ASX listing to sole standard listing on ASX reflects strategic shift.

## SEC filing metadata
- accession: 0000950157-25-000949
- form_type: 8-K
- ticker: LNWO
- cik: 0000750004
- company_name: Light & Wonder, Inc.
- filed_at: 2025-11-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/750004/000095015725000949/0000950157-25-000949-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/750004/000095015725000949/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950157-25-000949
- JSON: https://secwatch.observer/filing/0000950157-25-000949.json
- Plain text: https://secwatch.observer/filing/0000950157-25-000949.txt

## Key facts
- Governance Changes
  Light & Wonder, Inc.: Adopted Fourth Amended and Restated Bylaws to align with ASX listing rules, modify voting standard, conform exclusive forum provisions, change default to uncertificated shares, and make other clarifying changes (effective 2025-11-13).
  - Change: bylaw amendment
  - Effective: 2025-11-13
  source text: the Company’s Board of Directors approved an amendment and restatement of the Company’s Third Amended and Restated Bylaws (the “Fourth Amended and Restated Bylaws”), effective November 13, 2025
  evidence_url: https://www.sec.gov/Archives/edgar/data/750004/000095015725000949/0000950157-25-000949-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.