---
schema_version: "secwatch.filing_event.v1"
accession: "0000867773-23-000135"
form_type: "8-K"
ticker: null
cik: "0000867773"
company_name: "SUNPOWER CORP"
filed_at: "2023-12-18T23:59:59+00:00"
generated_at: "2026-06-07T11:34:36.023290+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SunPower subsidiary defaults on $65.3M loan; Q3 financials delivery delayed

## Summary
- Breach of covenant requiring delivery of Q3 2023 unaudited financial statements by Nov 29, 2023.
- Event of default under Atlas Credit Agreement could accelerate $65.3M in principal, interest and obligations.
- Company is in discussions with lenders for a waiver; no assurance waiver will be obtained.
- Default related to pending restatement of financials and resulting delay in Q3 financials delivery.

## SEC filing metadata
- accession: 0000867773-23-000135
- form_type: 8-K
- cik: 0000867773
- company_name: SUNPOWER CORP
- filed_at: 2023-12-18T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.04
- EDGAR index: https://www.sec.gov/Archives/edgar/data/867773/000086777323000135/0000867773-23-000135-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/867773/000086777323000135/spwr-20231129.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000867773-23-000135
- JSON: https://secwatch.observer/filing/0000867773-23-000135.json
- Plain text: https://secwatch.observer/filing/0000867773-23-000135.txt

## Key facts
- Debt Financings
  SUNPOWER CORP reported a default on credit facility of $65.3 million with Atlas Securitized Products Holdings, L.P..
  - Instrument: credit facility
  - Principal: $65.3 million
  - Counterparty: Atlas Securitized Products Holdings, L.P.
  - Event: default
  source text: Due to the delay in delivery of the Q3 Financials, there is an event of default under the Atlas Credit Agreement, which could be read to result in the immediate acceleration of debt under the Atlas Credit Agreement. If accelerated, the total accelerated amount would be equal to the principal, accrued interest, interest at the default rate (as applicable) and all other obligations payable under the Atlas Credit Agreement, which would be equal to approximately $65.3 million .
  evidence_url: https://www.sec.gov/Archives/edgar/data/867773/000086777323000135/0000867773-23-000135-index.htm

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