8-K
filed April 22, 2026, 7:59 PM ET
ticker SPWR
CIK 0001838987
debt
confidence high
sentiment positive
materiality 0.85
SunPower Inc. (SPWR): debt financing — SunPower raises $41M via 10% convertible notes due 2029; reduces debt by $40M
SunPower Inc.
- Issued $41M aggregate principal of 10.00% Convertible Senior Secured Notes due May 1, 2029; conversion price $1.6385/share (45% premium to $1.13 close).
- Proceeds used to prepay $5M of YA Debenture, pay $4.75M Siemens settlement, $4M to CPP, and ~$1.5M fees; net ~$9.75M for working capital.
- CEO Thurman J. Rodgers invested $6M personally via an affiliate; Sunder Energy former owners converted $10M of M&A debt into the new notes.
- Separate exchange agreements repurchased $21.25M of 7.0% Convertible Senior Notes for 18.8M shares of common stock plus accrued interest.
- Total debt reduction of $40M from the offering, exchange, and Sunder conversion; A&R Seller Note to CPP revised to $7M at 7%-10% interest.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SunPower Inc. incurred convertible notes of $41,000,000 aggregate principal amount with Qualified institutional buyers, an entity affiliated with T.J. Rodgers, and Chicken Parm Pizza LLC at 10.00% per year maturing May 1, 2029.
- Instrument
- convertible notes
- Principal
- $41,000,000 aggregate principal amount
- Counterparty
- Qualified institutional buyers, an entity affiliated with T.J. Rodgers, and Chicken Parm Pizza LLC
- Rate
- 10.00% per year
- Maturity
- May 1, 2029
- Event
- incurrence
Exact text from the filing
On April 21, 2026, SunPower Inc. (the “ Company ”) entered into note purchase agreements (the “ Note Purchase Agreements ”) relating to the private offering (the “ Offering ”) of $41,000,000 aggregate principal amount of the Company’s 10.00% Convertible Senior Secured Notes due 2029 (the “ Notes ”)
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
SunPower Inc. issued $6,000,000 principal amount of Notes of convertible note to entity affiliated with Thurman John “T.J.” Rodgers for $6,000,000 previously funded to the Company pursuant to simple agreements for future equity.
- Security
- convertible note
- Shares
- $6,000,000 principal amount of Notes
- Purchaser
- entity affiliated with Thurman John “T.J.” Rodgers
- Consideration
- $6,000,000 previously funded to the Company pursuant to simple agreements for future equity
Exact text from the filing
$6,000,000 principal amount of Notes issuable to an entity affiliated with Thurman John “T.J.” Rodgers
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
SunPower Inc. issued $10,000,000 aggregate principal amount of Notes of convertible note to Chicken Parm Pizza LLC for exchange of the promissory note originally issued by the Company to Chicken Parm Pizza LLC.
- Security
- convertible note
- Shares
- $10,000,000 aggregate principal amount of Notes
- Purchaser
- Chicken Parm Pizza LLC
- Consideration
- exchange of the promissory note originally issued by the Company to Chicken Parm Pizza LLC
Exact text from the filing
$10,000,000 aggregate principal amount of Notes issuable in connection with the exchange of the promissory note originally issued by the Company to Chicken Parm Pizza LLC
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
SunPower Inc. issued $25,000,000 aggregate principal amount of Notes of convertible note to qualified institutional buyers for $25,000,000 aggregate principal amount.
- Security
- convertible note
- Shares
- $25,000,000 aggregate principal amount of Notes
- Purchaser
- qualified institutional buyers
- Consideration
- $25,000,000 aggregate principal amount
Exact text from the filing
private offering (the “ Offering ”) of $41,000,000 aggregate principal amount of the Company’s 10.00% Convertible Senior Secured Notes due 2029 (the “ Notes ”), including: (i) $25,000,000 aggregate principal amount of Notes issuable to qualified institutional buyers; (ii) $6,000,000 principal amount of Notes issuable to an entity affiliated with Thurman John “T.J.”
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.7
SunPower Inc. entered into Affiliate Note Purchase Agreement with an entity affiliated with Thurman John “T.J.” Rodgers, the Company’s Chief Executive Officer and Chairman valued at $6,000,000 principal amount of Notes (effective 2026-04-21).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- an entity affiliated with Thurman John “T.J.” Rodgers, the Company’s Chief Executive Officer and Chairman
- Value
- $6,000,000 principal amount of Notes
- Effective
- 2026-04-21
Exact text from the filing
$6,000,000 principal amount of Notes issuable to an entity affiliated with Thurman John “T.J.” Rodgers, the Company’s Chief Executive Officer and Chairman pursuant to a Note Purchase Agreement executed between the Company and such affiliated entity (the “ Affiliate Note Purchase Agreement ”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SunPower Inc. entered into CPP Note Purchase Agreement with Chicken Parm Pizza LLC (“ CPP ”) valued at $10,000,000 aggregate principal amount of Notes (effective 2026-04-21).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Chicken Parm Pizza LLC (“ CPP ”)
- Value
- $10,000,000 aggregate principal amount of Notes
- Effective
- 2026-04-21
Exact text from the filing
Also on April 21, 2026, the Company entered into a Note Purchase Agreement with CPP (the “ CPP Note Purchase Agreement ”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SunPower Inc. entered into Note Purchase Agreements valued at $41,000,000 aggregate principal amount (effective 2026-04-21).
- Action
- entry
- Agreement
- notes offering
- Value
- $41,000,000 aggregate principal amount
- Effective
- 2026-04-21
Exact text from the filing
On April 21, 2026, SunPower Inc. (the “ Company ”) entered into note purchase agreements (the “ Note Purchase Agreements ”) relating to the private offering (the “ Offering ”) of $41,000,000 aggregate principal amount of the Company’s 10.00% Convertible Senior Secured Notes due 2029
View on SEC.gov
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