---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-046407"
form_type: "8-K"
ticker: "SPWR"
cik: "0001838987"
company_name: "SunPower Inc."
filed_at: "2026-04-22T23:59:59+00:00"
generated_at: "2026-05-15T04:55:41.665583+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SunPower raises $41M via 10% convertible notes due 2029; reduces debt by $40M

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-26-046407
- form_type: 8-K
- ticker: SPWR
- cik: 0001838987
- company_name: SunPower Inc.
- filed_at: 2026-04-22T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1838987/000121390026046407/0001213900-26-046407-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1838987/000121390026046407/ea0287307-8k_sunpower.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-046407
- JSON: https://secwatch.observer/filing/0001213900-26-046407.json
- Plain text: https://secwatch.observer/filing/0001213900-26-046407.txt

## Source-grounded claims
- claim_id: abc74fba9f0b0a7a7d4c5d86422e7c4c4e0874b8
  claim: 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.
  evidence_excerpt: 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 ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026046407/0001213900-26-046407-index.htm
- claim_id: 65505835c268755e167b8e22a1916a2009a58b26
  claim: 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).
  evidence_excerpt: $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 ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026046407/0001213900-26-046407-index.htm
- claim_id: 697e14c1350d14261aa5779a9e45a03fe70826f7
  claim: 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).
  evidence_excerpt: Also on April 21, 2026, the Company entered into a Note Purchase Agreement with CPP (the “ CPP Note Purchase Agreement ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026046407/0001213900-26-046407-index.htm
- claim_id: fcf9e1897de3607b2f27e743b9cd3758dad26185
  claim: SunPower Inc. entered into Note Purchase Agreements valued at $41,000,000 aggregate principal amount (effective 2026-04-21).
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390026046407/0001213900-26-046407-index.htm

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