---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-014892"
form_type: "8-K"
ticker: "SPWR"
cik: "0001838987"
company_name: "SunPower Inc."
filed_at: "2024-02-16T23:59:59+00:00"
generated_at: "2026-06-06T00:22:25.211040+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Complete Solaria raises $5M via SAFEs with Executive Chairman's trust

## Summary
- Entered two SAFEs with Rodgers Massey Freedom Trust for $1.5M on Jan 31 and $3.5M on Feb 15, 2024.
- SAFEs convertible at lower of pre-money valuation cap ($53.54M) or 80% of next equity financing price.
- Maximum shares issuable: 1,431,297 from first SAFE at ~$1.05/share; 3,707,627 from second at ~$0.94/share.
- Thurman J. Rodgers, Executive Chairman, is trustee of the Purchaser; related-party transaction.
- Securities issued exempt under Section 4(a)(2) and Rule 506(b); unregistered.

## SEC filing metadata
- accession: 0001213900-24-014892
- form_type: 8-K
- ticker: SPWR
- cik: 0001838987
- company_name: SunPower Inc.
- filed_at: 2024-02-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1838987/000121390024014892/0001213900-24-014892-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1838987/000121390024014892/ea193922-8k_complete.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-014892
- JSON: https://secwatch.observer/filing/0001213900-24-014892.json
- Plain text: https://secwatch.observer/filing/0001213900-24-014892.txt

## Key facts
- Material Agreements
  SunPower Inc. entered into Second SAFE with Rodgers Massey Freedom and Free Markets Charitable Trust valued at $3,500,000 (effective 2024-02-15).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Rodgers Massey Freedom and Free Markets Charitable Trust
  - Value: $3,500,000
  - Effective: 2024-02-15
  source text: On February 15, 2024, the Company entered into a simple agreement for future equity (the “Second SAFE” and together with the First SAFE, the “SAFEs”) with the Purchaser in connection with the Purchaser investing $3,500,000 in the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390024014892/0001213900-24-014892-index.htm
- Material Agreements
  SunPower Inc. entered into First SAFE with Rodgers Massey Freedom and Free Markets Charitable Trust valued at $1,500,000 (effective 2024-01-31).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Rodgers Massey Freedom and Free Markets Charitable Trust
  - Value: $1,500,000
  - Effective: 2024-01-31
  source text: On January 31, 2024, Complete Solaria, Inc. (the “Company”) entered into a simple agreement for future equity (the “First SAFE”) with the Rodgers Massey Freedom and Free Markets Charitable Trust (the “Purchaser”) in connection with the Purchaser investing $1,500,000 in the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390024014892/0001213900-24-014892-index.htm

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