Complete Solaria lowers forward purchase reset price to $1.00, amends VWAP trigger

SunPower Inc.

Reset price reduced from $3.00 to $1.00 per share in second amendments with Sandia and Polar.
VWAP trigger event amended: after Dec 31, 2024, trigger if VWAP below $1.00 for 20 of 30 trading days.
Sandia Second Amendment effective only if similar amendments executed with both Polar and Meteora.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SunPower Inc. amended Forward Purchase Agreement Second Amendment with Sandia Investment Management LP valued at Reset price lowered to $1.00 per share; VWAP Trigger Event amended (effective 2024-05-07).

Action: amendment
Agreement: equity purchase
Counterparty: Sandia Investment Management LP
Value: Reset price lowered to $1.00 per share; VWAP Trigger Event amended
Effective: 2024-05-07

Exact text from the filing

On May 7 and 8, 2024, respectively, the Company entered into separate amendments to the Forward Purchase Agreements (the collectively the “Second Amendments”) with Sandia (the “Sandia Second Amendment”) and Polar (the “Polar Second Amendment”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SunPower Inc. amended Forward Purchase Agreement Second Amendment with Polar Multi-Strategy Master Fund valued at Reset price lowered to $1.00 per share; VWAP Trigger Event amended (effective 2024-05-08).

Action: amendment
Agreement: equity purchase
Counterparty: Polar Multi-Strategy Master Fund
Value: Reset price lowered to $1.00 per share; VWAP Trigger Event amended
Effective: 2024-05-08

Exact text from the filing

On May 7 and 8, 2024, respectively, the Company entered into separate amendments to the Forward Purchase Agreements (the collectively the “Second Amendments”) with Sandia (the “Sandia Second Amendment”) and Polar (the “Polar Second Amendment”).

View on SEC.gov

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

SunPower Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-042914

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