NYSE files Form 25 to delist Allurion Technologies common stock

What happened

The New York Stock Exchange filed a Form 25 with the Securities and Exchange Commission on October 13, 2026, notifying the agency that it is removing Allurion Technologies, Inc.'s common stock and warrants from listing and registration, according to the filing.

The filing lists the issuer as Allurion Technologies, Inc., of Natick, Massachusetts, and the securities affected as "Common Stock; Warrants, each whole warrant exercisable to purchase 0.056818 shares of common stock at an exercise price of $202.50 per share of common stock." The filing was signed by Anthony Sozzi, identified as an analyst in NYSE's Market Watch unit.

Allurion's shares closed at $0.51 on the day of the filing, down 9.41% from the prior close of $0.563, according to the price data.

The filing does not state a reason for the delisting. The Form 25 text shows checkboxes for four rule provisions under 17 CFR 240.12d2-2 — (a)(1) through (a)(4) — but the provided document does not show which box, if any, was marked, and it does not include any narrative explanation of cause. Because the filing is silent on why, this article cannot say why.

About the company and the securities

Allurion Technologies is classified in the SEC filing under Surgical & Medical Instruments & Apparatus. It is a small, thinly covered company — a reminder that filings like this often come from issuers with little analyst attention.

The Form 25 covers two things: the common stock and the warrants. Common stock is the ordinary equity ownership in a company. A warrant is a security that gives its holder the right — not the obligation — to buy shares at a set price before a set expiration. The specific warrant terms listed here are unusual: each whole warrant is exercisable to purchase only 0.056818 of a share of common stock, at an exercise price of $202.50 per share. That structure — a fractional share per warrant at a high exercise price — is the kind of term companies sometimes set after a reverse stock split, though the filing itself does not say so.

Warrants in this case are listed on the exchange alongside the common stock, which is why the delisting notice names both.

What this means

A Form 25 is the formal notification that a security is being removed from an exchange listing and from registration under Section 12(b) of the Securities Exchange Act of 1934. Either the company or the exchange can file one, but in this case the filing exchange is the New York Stock Exchange, and the document is signed by an NYSE official. That indicates this is an exchange-initiated delisting rather than a voluntary company withdrawal, because the form contains separate checkboxes for each scenario and the certification language here is the exchange's.

For readers learning the mechanics: being listed on an exchange means a security trades on that venue under the exchange's rules and the issuer files periodic reports with the SEC under the Exchange Act. Removing that listing does two things at once — the security stops trading on the NYSE, and the registration obligation tied to that listing typically ends. In practice, NYSE-listed delisted stocks often continue trading over the counter, but the filing does not state whether Allurion's shares will do so.

This Form 25 is not the debt-securities case. The distinction matters because a Form 25 is also filed when a company's notes, bonds, or debentures reach maturity and are repaid on schedule — a routine event that looks identical in the filing metadata. Here the securities listed on the form are common stock and warrants, not debt. A Form 25 for common stock is a significant event, not housekeeping.

The terms of the warrants described in the filing — 0.056818 of a share per warrant at $202.50 — are worth pausing over, because they are far out of line with the $0.51 closing price of the common stock. A warrant exercise price of $202.50 is roughly 397 times the closing price. That means the warrants are effectively deep out of the money: no rational holder would exercise a warrant to buy a fractional share at $202.50 when the same fractional share could be bought in the market for a small fraction of that. The filing does not explain the warrant terms, and this article does not speculate about their origin.

The Form 25 does not disclose what happens next in specific terms. Ordinarily, the delisting process the exchange follows is set out in its own listing rules, and the filing states that the exchange has complied with those rules under 17 CFR 240.12d2-2(b). What the filing does not provide is a timetable for when trading stops, any company statement, or any reason for the delisting. Readers looking for the cause will need the NYSE's own notice or a company disclosure, neither of which is included in the source material for this article.