SunPower Proposes Bonus Shares In lieu of Cash for the Next Two Interest Payments of 12% and 7% Notes
SunPower intends to negotiate with holders of its 12% and 7% Convertible Senior Notes due 2029 to accept common stock in lieu of cash interest for payments due July 1, 2026, and January 1, 2027. CEO T.J. Rodgers stated that recent incremental investment from Fortis Capital in May 2026 bolstered the Q2 cash position, while this stock-in-lieu transaction is intended to provide financial flexibility for Q3 2026.
Key figures
- Note maturity
- 2029
- Note interest rate 1
- 12%
- Note interest rate 2
- 7%
- Interest payment dates
- ["July 1, 2026","January 1, 2027"]
AI analysis
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