Post by SunPower

SunPower has closed an additional $5 million private placement of its senior convertible debenture notes, bringing total funding from our April 28 offering to $46 million. The repeat investor is Fortis Capital, an entity associated with John Doerr, Chairman of Kleiner Perkins. CEO T.J. Rodgers commented: "As I shared with the market during our Q1'26 analyst call last week, the company has taken multiple steps to reduce the accumulated overhead costs from four acquisitions to create a steady-state cashflow breakeven in Q3'26. I remain grateful to our employees for their sacrifices and to our investors for their continued support. We look forward to providing updates on our progress through the bottom Q2'26 quarter and on into the Q3'26 quarter for which we already have record bookings." Read the full press release: https://lnkd.in/dJtMsT2Y #SunPower #SPWR #Solar #RenewableEnergy #CleanEnergy #ResidentialSolar