secwatch.observer — SEC 8-K summary
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Issuer:     SunPower Inc. (SPWR)
CIK:        0001838987
Form:       8-K
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0001213900-24-014892
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1838987/000121390024014892/0001213900-24-014892-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1838987/000121390024014892/ea193922-8k_complete.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-014892

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer