Post by SunPower

SunPower has closed a $41 million funding round, reducing total company debt by $40 million. T.J. Rodgers, Chairman & CEO, commented: "The cash plan for this offering, which shows it will carry us through 2026 into a positive cashflow period in 2027 and beyond, will be further discussed in the Tuesday May 12 investor report. It was key in convincing investors to support our new offering in the very week that Freedom Forever, the fast-growing No. 2 U.S. residential solar company, declared Chapter 11 bankruptcy, adding to solar market uncertainty. Based on prior acquisitions, SunPower has moved to the No. 5 spot in residential solar in the U.S., with No. 3 in sight. As a second benefit of troubled times, we have also signed about 600 sales representatives coming from Freedom Forever and two other recently distressed companies. We thank our investors for supporting our opportunity to grow." Read the full announcement: https://lnkd.in/gzZ6ijrq #SunPower #SPWR #SolarEnergy #ResidentialSolar #EnergyEvolution