Freedom Acquisition I enters financing deals for Complete Solaria deal; $118.8M redemptions elected

SunPower Inc.

Forward Purchase Agreements with Meteora, Polar, and third-party for up to 6.3M Class A shares.
New Money PIPE: 1.126M shares at $5.00/share for $5.63M; 100k shares issued for structuring services.
PIPE Financing: 563,000 shares at $10.00/share for $5.63M; Sponsor transfers 5.63M Class B shares.
Redemptions: 11,243,496 shares elected for ~$10.56/share, totaling ~$118.8M from trust.
Non-redemption agreement with Polar for 331,753 shares; Sponsor transfers equivalent Class B shares.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SunPower Inc. entered into Forward Purchase Agreement with Meteora Special Opportunity Fund I, LP, Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, Polar Multi-Strategy Master Fund, and a third-party investor (effective 2023-07-13).

Action: entry
Agreement: equity purchase
Counterparty: Meteora Special Opportunity Fund I, LP, Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, Polar Multi-Strategy Master Fund, and a third-party investor
Effective: 2023-07-13

Exact text from the filing

On July 13, 2023, Freedom Acquisition I Corp. (“Freedom”) and Complete Solaria, Inc. (“Complete Solaria”) entered into separate agreements (each a “Forward Purchase Agreement”, and together, the “Forward Purchase Agreements”) with each of (i) Meteora Special Opportunity Fund I, LP (“MSOF”), Meteora Capital Partners, LP (“MCP”) and Meteora Select Trading Opportunities Master, LP (“MSTO”) (with MSOF, MCP, and MSTO collectively as “Meteora”); (ii) Polar Multi-Strategy Master Fund (“Polar”), and (iii) another third-party investor (“Investor”, and each of Meteora, Polar, and Investor, individually, a “Seller”, and together, the “Sellers”) for OTC Equity Prepaid Forward Transactions.

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23 material agreements filed in the last 30 days. Browse all material agreements →

SunPower Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-186922

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