SunPower Corporation, a leading solar technology and energy services provider, announced the issuance of warrants to purchase shares of the company's common stock, which was approved by written consent from the majority stockholder, Sol Holding, LLC. This corporate action, taken in lieu of a special meeting, allows for the issuance of warrants equal to 20% or more of the common stock before the issuance for less than the market value of the stock. The approval was required under Nasdaq Rule 5635(d) and was obtained in accordance with Section 228 of the General Corporation Law of the State of Delaware. The approval by written consent dated February 14, 2024, circumvents the need for a stockholder meeting or additional votes. The Information Statement detailing this...Show More

SunPower Corporation, a leading solar technology and energy services provider, announced the issuance of warrants to purchase shares of the company's common stock, which was approved by written consent from the majority stockholder, Sol Holding, LLC. This corporate action, taken in lieu of a special meeting, allows for the issuance of warrants equal to 20% or more of the common stock before the issuance for less than the market value of the stock. The approval was required under Nasdaq Rule 5635(d) and was obtained in accordance with Section 228 of the General Corporation Law of the State of Delaware. The approval by written consent dated February 14, 2024, circumvents the need for a stockholder meeting or additional votes. The Information Statement detailing this action is being furnished to stockholders in accordance with SEC rules, solely for the purpose of informing them of the action taken by written consent. The effective date of the stockholder approval will be on or about 20 calendar days after the mailing of the Information Statement. No action is required by stockholders, and no proxy is requested. The Information Statement is available on the SEC's website.