SunPower enters $20M standby equity purchase agreement and issues $3.3M convertible note to CEO’s trust

SunPower Inc.

SEPA with YA II PN for up to $20M pre-paid advances; first tranche of $1.9M funded Jan 27, 2026.
Pre-paid advances carry 0% interest (18% on default); convertible at lower of 125% of VWAP or 93% of 5-day low.
Company also has right to sell up to $25M of common stock to Investor through 2029, subject to 19.99% exchange cap.
Issued $3.3M convertible note (12% interest, due July 2029) to trust controlled by CEO Thurman J. Rodgers; convertible at 540.5405 shares per $1,000.
175,000 commitment shares issued to YA II PN; proceeds used for general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SunPower Inc. entered into Standby Equity Purchase Agreement with YA II PN, LTD. valued at up to $20 million (effective 2026-01-27).

Action: entry
Agreement: equity purchase
Counterparty: YA II PN, LTD.
Value: up to $20 million
Effective: 2026-01-27

Exact text from the filing

SunPower Inc. (the “ Company ”) entered into a Standby Equity Purchase Agreement (the “ SEPA ”) with YA II PN, LTD., a Cayman Islands exempt limited company (the “ Investor ”).

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SunPower Inc. filing history →

Source: SEC EDGAR

accession 0001213900-26-009812

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