SunPower closes $41M convertible debt offering, swaps $21M of 7% notes for 18.8M shares

Filed April 29, 2026 · Period ending April 23, 2026 · ~2 min read

Key Changes

• high

  Raised $41M through 10% convertible senior secured notes due 2029, including $25M cash from institutional investors, $6M from CEO-affiliated entities converting prior investments, and $10M restructuring Sunder acquisition debt. Notes secured by first-priority lien on substantially all assets.

  Item 8.01: Debt Offering verify on EDGAR →
• high

  Exchanged $21.25M of existing 7% convertible notes for 18.8M shares of common stock plus $456K accrued interest, reducing debt burden but diluting existing shareholders by approximately 18.8M shares.

  Item 8.01: Exchange Transaction verify on EDGAR →
• medium

  Restructured Sunder Energy seller note by paying $4M cash to Chicken Parm Pizza LLC and issuing amended note, alongside $10M in new convertible notes to same party, comprehensively refinancing acquisition obligations.

  Item 8.01: Seller Note verify on EDGAR →