The New York Stock Exchange announced that it will commence delisting proceedings for Butterfly Network’s warrants (ticker BFLY WS) on January 14, 2026. The warrants, issued in connection with the company’s 2021 business combination with Longview Acquisition Corp., give holders the right to purchase one share of Class A common stock at an exercise price of $11.50.
The NYSE cited the warrants’ abnormally low trading price as the trigger for the action. On the day of the announcement, the warrants traded between $0.0099 and $0.0053, with a 52‑week low of $0.0051. The warrants are scheduled to expire on February 12, 2026, so the combination of a steeply discounted price and a short time to expiration prompted the exchange to move to delisting under Section 802.01D of the Listed Company Manual.
Trading in the warrants was suspended immediately, meaning holders can no longer buy or sell the instrument on the NYSE. The warrants will remain exercisable until their expiration date, but the lack of a liquid market could render them effectively worthless if holders do not exercise before February 12. Butterfly Network’s common stock (ticker BFLY) continues to trade normally on the NYSE.
Butterfly Network stated that the delisting is unrelated to its operating performance and that it does not believe the action reflects any fundamental weakness in the company. The firm has the right to appeal the NYSE’s decision through a committee of the exchange’s board of directors, but no timeline for an appeal has been disclosed.
The delisting does not affect Butterfly Network’s core business or its common‑stock trading. However, the move highlights the regulatory risk associated with derivative instruments that trade at very low prices and underscores the importance of liquidity for warrant holders. Investors holding the warrants should monitor the expiration date and consider exercising before the instrument becomes worthless.
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