8-K
filed January 30, 2026, 6:59 PM ET
ticker SPWR
CIK 0001838987
debt
confidence high
sentiment negative
materiality 0.85
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.
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
SunPower Inc. issued convertible note to YA II PN, LTD. for principal amount of $1.9 million.
- Security
- convertible note
- Purchaser
- YA II PN, LTD.
- Consideration
- principal amount of $1.9 million
Exact text from the filing
The first tranche of the Pre-Paid Advance was disbursed on January 27, 2026 in the principal amount of $1.9 million.
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
SunPower Inc. issued 175,000 shares of Common Stock of common stock to YA II PN, LTD..
- Security
- common stock
- Shares
- 175,000 shares of Common Stock
- Purchaser
- YA II PN, LTD.
Exact text from the filing
agreed to issued to the investor 175,000 shares of Common Stock within three days of the Effective Date, as a commitment fee
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
SunPower Inc. issued convertible note for $3,300,000 principal amount.
- Security
- convertible note
- Consideration
- $3,300,000 principal amount
Exact text from the filing
conversion of the January 2026 12% Note and any resulting issuance of shares of Common Stock. A maximum of 1,783,783 shares of Common Stock may be issued upon conversion of the $3,300,000 principal amount of the January 2026 12% Note based on the conversion rate of 540.5405 shares of Common Stock per $1,000 principal amount of the January 2026 12% Note, which
View on SEC.gov
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 ”).
View on SEC.gov
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