SunPower Inc. (SPWR): M&A transaction — Complete Solaria closes $45M acquisition of SunPower's Blue Raven Solar and new homes assets

SunPower Inc.

Acquired SunPower's Blue Raven Solar business, new homes business, and non-installing dealer network for $45M cash; closed Sept 30, 2024.
Funded with $80M in 7.00% Convertible Senior Notes due 2029; CEO Thurman J. Rodgers purchased $8M of the notes.
Entered Transition Services Agreement: SunPower provides forward transition services; Complete Solaria provides reverse services at no cost.
Complete Solaria pays SunPower's transition costs including license fees, employee costs, and out-of-pocket expenses plus fixed costs.
Financial statements and pro forma information for the acquired business to be filed within 71 days after Oct 4, 2024.

item 1.01 item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SunPower Inc. completed an acquisition involving SunPower Corporation for $45,000,000 in cash (closed 2024-09-30).

Action: acquisition
Counterparty: SunPower Corporation
Consideration: $45,000,000 in cash
Closing: 2024-09-30

Exact text from the filing

agreed, subject to the terms and conditions of the APA, to acquire the Acquired Assets and assume the Assumed Liabilities (each as defined in the APA) from the Debtors for $45,000,000 in cash at the closing of the transaction, including a deposit of $4,500,000 that was previously paid into an escrow account by the Company. At a hearing held on September 23,

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SunPower Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-084077

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