SunPower entered into three OTC Equity Prepaid Forward Transaction Settlement Agreements with Meteora funds, Polar Multi-Strategy Master Fund, and Diametric True Alpha funds on Jul 17, 2026. To satisfy settlement amount adjustments from July 2023 forward purchase agreements, SunPower elected to issue stock, totaling 17,900,462 initial shares across all sellers, with potential additional shares based on trading during a valuation period. One seller may receive $50,000 monthly amortization payments starting Oct 31, 2026 if proceeds from share sales do not meet the agreed amount. The agreements include registration rights for all issued and issuable shares.
Agreement 1: SunPower Issues 17.9M Shares to Settle Prepaid Forwards With Meteora Funds
- Agreement type: OTC Equity Prepaid Forward Transaction Settlement Agreement
- Counterparty: Meteora Special Opportunity Fund I; Meteora Capital Partners; Meteora Select Trading Opportunities Master
- Signed / Effective: Jul 17 2026 / same
- Duration / Termination: At will
- Reason: Settle forward purchase adjustments with equity and preserve liquidity
Agreement 2: SunPower Settles Prepaid Forward With Polar Multi-Strategy via Stock Issuance
- Agreement type: OTC Equity Prepaid Forward Transaction Settlement Agreement
- Counterparty: Polar Multi-Strategy Master Fund
- Signed / Effective: Jul 17 2026 / same
- Duration / Termination: At will
- Reason: Settle forward purchase adjustments with equity and preserve liquidity
Agreement 3: SunPower Reaches Stock-Settled Forward Settlement With Diametric True Alpha Funds
- Agreement type: OTC Equity Prepaid Forward Transaction Settlement Agreement
- Counterparty: Diametric True Alpha Market Neutral Master Fund; Diametric True Alpha Enhanced Market Neutral Master Fund
- Signed / Effective: Jul 17 2026 / same
- Duration / Termination: At will
- Reason: Settle forward purchase adjustments with equity and preserve liquidity
Original SEC Filing:
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