secwatch.observer — SEC 8-K summary
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Issuer:     SunPower Inc. (SPWR)
CIK:        0001838987
Form:       8-K
Filed at:   2025-07-16T23:59:59+00:00
Accession:  0001213900-25-064680
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Complete Solaria issues $5M convertible note to CEO Thurman Rodgers at 12% interest
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- Convertible promissory note for $5,000,000 issued to a trust controlled by CEO Thurman J. Rodgers.
- Note bears 12% interest, matures July 1, 2029; interest payable semiannually starting Jan 1, 2026.
- Conversion rate initially 558.6592 shares per $1,000 principal; max ~2,793,296 shares issuable.
- Company may redeem note after July 5, 2026 if stock price meets specified thresholds.
- Issued under Section 4(a)(2) exemption; shares upon conversion exempt under Section 3(a)(9).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1838987/000121390025064680/0001213900-25-064680-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1838987/000121390025064680/ea0249165-8k_complete.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-064680

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