---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-009812"
form_type: "8-K"
ticker: "SPWR"
cik: "0001838987"
company_name: "SunPower Inc."
filed_at: "2026-01-30T23:59:59+00:00"
generated_at: "2026-05-16T06:04:39.810226+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-26-009812
- form_type: 8-K
- ticker: SPWR
- cik: 0001838987
- company_name: SunPower Inc.
- filed_at: 2026-01-30T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1838987/000121390026009812/0001213900-26-009812-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1838987/000121390026009812/ea0274479-8k_sunpower.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-009812
- JSON: https://secwatch.observer/filing/0001213900-26-009812.json
- Plain text: https://secwatch.observer/filing/0001213900-26-009812.txt

## Key facts
- Material Agreements
  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
  source text: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026009812/0001213900-26-009812-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.