SunPower issues additional 10% convertible notes, adding to April 2026 offering

Filed May 22, 2026 · Period ending May 19, 2026 · ~1 min read

Key Changes

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  SunPower issued additional 10% Convertible Senior Secured Notes due 2029 on May 20, 2026, convertible at $1.64/share (610.3 shares per $1,000 principal), secured by substantially all company assets.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  Notes carry potential dilution of up to 4.4M shares at maximum conversion rate of 885 shares per $1,000 principal, with 9.99% ownership cap preventing any single holder from exceeding that threshold.

  Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →
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  Indenture restricts SunPower's ability to incur additional debt, pay dividends, repurchase stock, or dispose of assets; asset sales may trigger mandatory repurchase offers at par plus interest.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →