On May 30, 2024, SunPower Corporation, a leading solar technology and energy services provider, reported significant corporate activity involving its major shareholder, TotalEnergies SE, and its affiliates. TotalEnergies SE, through various subsidiaries, has disclosed shared voting and dispositive power over 162,970,512 shares of SunPower's common stock, representing a 65.1% ownership stake. This disclosure was made in an amendment to the Schedule 13D filing with the United States Securities and Exchange Commission. The filing indicates that TotalEnergies SE and its subsidiaries, including TotalEnergies Holdings USA, Inc., TotalEnergies Delaware, Inc., TotalEnergies Renewables USA, LLC, and Sol Holding, LLC, may be deemed to beneficially own the reported shares. The ownership percentage is calculated based on the total number of SunPower's common stock outstanding as of December...Show More

On May 30, 2024, SunPower Corporation, a leading solar technology and energy services provider, reported significant corporate activity involving its major shareholder, TotalEnergies SE, and its affiliates. TotalEnergies SE, through various subsidiaries, has disclosed shared voting and dispositive power over 162,970,512 shares of SunPower's common stock, representing a 65.1% ownership stake. This disclosure was made in an amendment to the Schedule 13D filing with the United States Securities and Exchange Commission. The filing indicates that TotalEnergies SE and its subsidiaries, including TotalEnergies Holdings USA, Inc., TotalEnergies Delaware, Inc., TotalEnergies Renewables USA, LLC, and Sol Holding, LLC, may be deemed to beneficially own the reported shares. The ownership percentage is calculated based on the total number of SunPower's common stock outstanding as of December 15, 2023, and includes shares issued upon the cashless exercise of warrants and shares underlying a second tranche warrant. The filing also details the exercise of the First Tranche Warrant by Sol Holding, resulting in the issuance of 41,612,944 shares of common stock to Sol Holding, and the issuance of the Second Tranche Warrant, which is exercisable for additional shares. The filing provides an update to the financial arrangements between SunPower and TotalEnergies SE, including the Second Lien Credit Agreement and related warrants.