---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-026160"
form_type: "8-K"
ticker: "SPWR"
cik: "0001838987"
company_name: "SunPower Inc."
filed_at: "2026-03-11T23:59:59+00:00"
generated_at: "2026-05-15T15:04:26.164990+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# SunPower issues $10M convertible debenture to YA II PN at 90% of par; conversion at $2.50/share

## Summary
- Issued $10M convertible debenture for $9M (90% of principal) to YA II PN, LTD.; 0% interest (18% on default).
- Debenture matures March 6, 2027; investor may convert at $2.50 fixed price or 95% of 5-day VWAP after installments.
- Five installment payments of $2M each plus $60K premium due May–Sep 2026; optional redemption at 3% premium (waived if before Apr 30, 2026).
- Shares issuable capped at 22,381,878 (Nasdaq exchange cap) unless stockholder approval obtained; 4.99% beneficial ownership limit.
- Amended seller note with Sunder Energy; maturity extended to Sep 30, 2026 (or Dec 31 if registration not effective), interest increases to 10% after May 15, 2026.

## SEC filing metadata
- accession: 0001213900-26-026160
- form_type: 8-K
- ticker: SPWR
- cik: 0001838987
- company_name: SunPower Inc.
- filed_at: 2026-03-11T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1838987/000121390026026160/0001213900-26-026160-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1838987/000121390026026160/ea0280906-8k_sunpower.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-026160
- JSON: https://secwatch.observer/filing/0001213900-26-026160.json
- Plain text: https://secwatch.observer/filing/0001213900-26-026160.txt

## Key facts
- Material Agreements
  SunPower Inc. entered into Purchase Agreement with YA II PN, LTD. valued at $10,000,000 (effective 2026-03-06).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: YA II PN, LTD.
  - Value: $10,000,000
  - Effective: 2026-03-06
  source text: On March 6, 2026 (the “ Effective Date ”), SunPower Inc. (the “ Company ”) entered into a Purchase Agreement (the “ Purchase Agreement ”) with YA II PN, LTD., a Cayman Islands exempt limited company (the “ Investor ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026026160/0001213900-26-026160-index.htm
- Material Agreements
  SunPower Inc. entered into Debenture with YA II PN, LTD. valued at $10,000,000 (effective 2026-03-06).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: YA II PN, LTD.
  - Value: $10,000,000
  - Effective: 2026-03-06
  source text: Pursuant to the Purchase Agreement, the Investor purchased and the Company issued a convertible debenture in the principal amount of $10,000,000 (the “ Debenture ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026026160/0001213900-26-026160-index.htm
- Material Agreements
  SunPower Inc. amended Amendment and Agreement (the "Sunder Amendment") with Chicken Parm Pizza LLC (effective 2026-03-05).
  - Action: amendment
  - Agreement: notes offering
  - Counterparty: Chicken Parm Pizza LLC
  - Effective: 2026-03-05
  source text: On March 5, 2026, in connection with the transactions under the Purchase Agreement and the Debenture, the Company and Chicken Parm Pizza LLC (the “ Sunder Member ”) entered into an Amendment and Agreement (the “ Sunder Amendment ”) relating to (i) the Membership Interest Purchase Agreement,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026026160/0001213900-26-026160-index.htm
- Material Agreements
  SunPower Inc. entered into Registration Rights Agreement with YA II PN, LTD. (effective 2026-03-06).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: YA II PN, LTD.
  - Effective: 2026-03-06
  source text: In connection with the Purchase Agreement and the Debenture, the Company entered into a registration rights agreement (the “ Registration Rights Agreement ”) with the Investor, pursuant to which the Company agreed to file a registration statement registering the resale of the Common Stock underlying the Debenture and the Common Stock subject to advances pursuant to the SEPA.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026026160/0001213900-26-026160-index.htm

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