Freedom Acquisition I reports corrected PIPE of $5.63M and $114.4M redemptions for Complete Solaria merger

SunPower Inc.

Corrected PIPE: 563,000 shares at $10.00/share for aggregate $5,630,000 from PIPE Investors.
Sponsor to transfer 563,000 Class B ordinary shares pro rata to PIPE investors at closing.
Holders of 10,833,004 Class A shares validly elected redemption at ~$10.56/share, total $114,443,068.95.
Errors corrected: prior 8-K numbers for Class B share transfer and redemption totals now replaced.

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 Subscription Agreements with certain investors (the 'PIPE Investors') valued at $5,630,000 (effective 2023-07-13).

Action: entry
Agreement: equity purchase
Counterparty: certain investors (the 'PIPE Investors')
Value: $5,630,000
Effective: 2023-07-13

Exact text from the filing

On July 13, 2023, Freedom and Freedom Acquisition I LLC, a Cayman Islands limited liability company (the “Sponsor”) entered into subscription agreements (the “Subscription Agreements”) with certain investors (the “PIPE Investors”). Pursuant to the Subscription Agreements, the PIPE Investors agreed to subscribe for and purchase, and Freedom agreed to issue and sell to such investors, immediately prior to (but subject to), the Business Combination between Freedom and Complete Solaria, an aggregate of 563,000 shares of common stock of Freedom for a purchase price of $10.00 per share, for aggregate gross proceeds of $5,630,000 (the “PIPE Financing”).

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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 0001193125-23-187358

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