SunPower Closes $41 Million Funding Round $40 Million Debt Reduction
SunPower Inc. (SPWR)
Last sunpower inc. earnings: 2/12 04:05 pm
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Source: GlobeNewswire
OREM, Utah, April 28, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. (herein “SunPower,” the “Company,” or Nasdaq: “SPWR”), a solar technology, services, and installation company, today announced it had closed a private placement of $41 million in senior, convertible debenture notes with a 10% coupon (the “new offering”). The proceeds will provide liquidity and debt reduction by paying off $28.75 million of existing debt. In addition, certain investors in our prior 7.0% convertible notes have agreed to exchange $21.25 million of the principal in those notes for equity in the company, bringing the company’s total debt reduction to $40 million. Finally, Sunder, our recently acquired solar sales company, has swapped $10 million in acquisition debt for notes in the new offering. SunPower’s sole Financial Advisor and Placement Agent was Santander, and Arnold & Porter served as legal counsel on this convertible note transaction. SunPower CEO, T.J. Rodgers commented, “The cash plan for this offe
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