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May 22, 2026 8:10 AM

SunPower Adds $5M to Recent $41M Offering

OREM, Utah, May 22, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. ("SunPower," the "Company," or Nasdaq: "SPWR"), a solar technology, services, and installation company, today announced it had closed on an incremental $5 million private placement of its April 28, 2026 senior, convertible debenture notes, bringing the total funding to $46 million. The proceeds will provide increased intra-quarter liquidity for general corporate needs. The repeat investor is Fortis Capital, an entity associated with John Doerr, Chairman of venture firm Kleiner-Perkins.

SunPower 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 already have record bookings."

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