SPAC sponsor interest sold to NextG, director resigns, new director appointed, $500K promissory note issued

SunPower Inc.

LVS III SPE XLIII LP sold its entire sponsor interest to NextG Tech Limited; all rights/obligations under Letter Agreement assigned.
Director Jamie Weinstein resigned; Edward Zeng appointed to board effective June 6, 2022.
Promissory note of up to $500,000 issued to sponsor for working capital, convertible into warrants at $1.50/share.
Letter Agreement amended to permit advisory fees to China Bridge Capital (CBC), an affiliate of NextG.
No interest on note; principal due upon earlier of 24 months from IPO or business combination.

item 1.01 item 2.03 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Jamie Weinstein

Director

SPWR · SunPower Inc.

Effective: 2022-06-06
Successor: Edward Zeng
Filed: June 8, 2022, 7:59 PM ET

Jamie Weinstein, who was LVS’s nominee to our board of directors, resigned from our board of directors.

Appointed

Edward Zeng

Director

SPWR · SunPower Inc.

Effective: 2022-06-06
Filed: June 8, 2022, 7:59 PM ET

On June 6, 2022, our board of directors appointed Mr. Zeng to the board of directors, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jamie Weinstein resigned as Director at SunPower Inc..

Action: resigned
Role: Director

Exact text from the filing

Jamie Weinstein, who was LVS’s nominee to our board of directors, resigned from our board of directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Edward Zeng was appointed as Director at SunPower Inc..

Action: appointed
Role: Director

Exact text from the filing

On June 6, 2022, our board of directors appointed Mr. Zeng to the board of directors, effective immediately.

View on SEC.gov

SunPower Inc. filing history →

Source: SEC EDGAR

accession 0001213900-22-031779

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