SunPower issues USD 10 million convertible debenture

Reuters03-12 04:31

SunPower issues USD 10 million convertible debenture

SunPower entered a purchase agreement under which it issued a USD 10 million convertible debenture to YA II PN. The debenture was sold for a USD 9 million purchase price, net of certain fees. The debenture matures on March 6, 2027, and accrues 0% interest unless an event of default occurs, when interest increases to 18%. SunPower must make five installment payments of USD 2 million each on specified dates from May 6, 2026 through September 6, 2026. The investor may convert amounts under the debenture into common stock at a fixed price of USD 2.5 per share, subject to issuance limits including a 4.99% beneficial ownership cap.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sunpower Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-026160), on March 11, 2026, and is solely responsible for the information contained therein.

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