SunPower Inc. Announces $26.2M Private Placement of Common Stock

What Happened
SunPower Inc. announced on Sept. 2, 2026 that it entered into securities purchase agreements to sell 103,109,005 shares of its common stock in privately negotiated transactions for gross proceeds of approximately $26.2 million. The purchase price is $0.2541 per share (the Nasdaq official close on Sept. 2, 2026). The Company said the private placement is expected to close on Sept. 4, 2026, subject to closing conditions, and that proceeds will be used for working capital and general corporate purposes. Investors include entities affiliated with Thurman John “T.J.” Rodgers, William Anderson, J. Daniel McCranie and Devin Whatley.

Key Details

• Shares to be issued: 103,109,005 common shares.
• Gross proceeds: ~ $26.2 million (includes amounts funded under simple agreements for future equity).
• Price per share: $0.2541 (equal to Nasdaq Official Closing Price on Sept. 2, 2026).
• Timing & filings: Private placement expected to close Sept. 4, 2026; SunPower will file a resale registration statement for the Shares with the SEC on or before Oct. 2, 2026.
• Disclosure: Press release dated Sept. 3, 2026 and supplemental financial information were furnished in connection with the offering.

Why It Matters
This transaction raises near-term liquidity for SunPower (about $26.2M) to support operations and general corporate needs. It also increases the company’s outstanding share count, which can affect per‑share metrics. The planned resale registration could allow the new investors to publicly resell their shares after the registration is effective. Investors should note the transaction was privately negotiated and involves affiliated investors named in the filing.