---
schema_version: "secwatch.filing_event.v1"
accession: "0000867773-23-000105"
form_type: "8-K"
ticker: null
cik: "0000867773"
company_name: "SUNPOWER CORP"
filed_at: "2023-12-11T23:59:59+00:00"
generated_at: "2026-06-07T15:20:18.139831+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SunPower obtains temporary default waiver and $50M revolver capacity through Jan 2024

## Summary
- Temporary waiver of financial and reporting covenant defaults until January 19, 2024.
- Sol Holding LLC committed $25M new revolving loans; existing lenders provide $25M of existing commitments.
- Total revolver reduced to $50M; no new LCs, swingline loans, or incremental facilities permitted.
- Company must deliver budgets every 4 weeks, weekly variance reports, and follow strict covenant limits.
- Management plans to negotiate longer-term solution; no assurance additional waivers will be obtained.

## SEC filing metadata
- accession: 0000867773-23-000105
- form_type: 8-K
- cik: 0000867773
- company_name: SUNPOWER CORP
- filed_at: 2023-12-11T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/867773/000086777323000105/0000867773-23-000105-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/867773/000086777323000105/spwr-20231208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000867773-23-000105
- JSON: https://secwatch.observer/filing/0000867773-23-000105.json
- Plain text: https://secwatch.observer/filing/0000867773-23-000105.txt

## Key facts
- Debt Financings
  SUNPOWER CORP amended revolving credit of revolving credit capacity under the Credit Agreement will be limited to $50 million with Bank of America, N.A., BMO Bank, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A., and Sol Holding, LLC.
  - Instrument: revolving credit
  - Principal: revolving credit capacity under the Credit Agreement will be limited to $50 million
  - Counterparty: Bank of America, N.A., BMO Bank, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A., and Sol Holding, LLC
  - Event: amendment
  source text: parties and unrestricted subsidiaries and junior debt payments. After giving effect to the Amendment, revolving credit capacity under the Credit Agreement will be limited to $50 million and the Company may not issue any new letters of credit or incur swingline loans or incremental facilities pursuant to the Credit Agreement. The foregoing description of the
  evidence_url: https://www.sec.gov/Archives/edgar/data/867773/000086777323000105/0000867773-23-000105-index.htm
- Material Agreements
  SUNPOWER CORP amended Amendment and Waiver to Credit Agreement with Bank of America, N.A., BMO Bank, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A., and Sol Holding, LLC valued at $25 million of new revolving commitments and access to $25 million of existing revolving commitments (effective 2023-12-08).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., BMO Bank, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A., and Sol Holding, LLC
  - Value: $25 million of new revolving commitments and access to $25 million of existing revolving commitments
  - Effective: 2023-12-08
  source text: On December 8, 2023, SunPower Corporation (the “Company”) entered into an Amendment and Waiver to Credit Agreement (the “Amendment”) amending that certain Credit Agreement, dated as of September 12, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/867773/000086777323000105/0000867773-23-000105-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.