SunPower exchanges $10.7M cash interest for 19.3M shares; CEO says Q2 bottom, record backlog

SunPower Inc.

Exchanged ~$10.7M interest payments on convertible notes for 19.3M common shares, eliminating cash interest due July/Oct 2026 and Jan 2027.
Exchange accepted by all but one note holder; CEO calls current stock price attractive for long-term investors.
CEO states Q2 2026 appears to be the bottom for SunPower and the U.S. residential solar industry.
Company has cut costs and boosted financial flexibility; record backlog going into Q3 with strong growth expected.

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