SunPower Prices $41 Million Convertible Debt
SunPower Inc. (SPWR)
Last sunpower inc. earnings: 2/12 04:05 pm
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
OREM, Utah, April 22, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. (“SunPower,” the “Company,” or Nasdaq: “SPWR”) a solar technology, services, and installation company, announced it has raised $41.0 million in Convertible Senior Secured Notes (the “convertible debenture”). We have signed contracts with investors for $41 million of convertible debentures, which will close this week. The terms include: 1) non-callable until maturity on May 1, 2029, 2) a 10% coupon, and 3) a 45% conversion premium to market closing price ($1.13), which leads to 25,022,887 shares issuable at the conversion price of $1.6385. The proceeds will be used for working cash and to directly pay off $18.75 million in debt. In addition, other investors have agreed to exchange their 7.0% notes for stock, which amounts to another $21.25 million of cancelled debt. Finally, the former owners of Sunder converted $10 million of their M&A debt into the new convertible debenture, bringing the total debt reduction to $40 milli
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