SAN JOSE, Calif., Oct. 8, 2020 /PRNewswire/ -- SunPower
(NASDAQ:SPWR), a leading solar technology and energy services
provider, today announced new conversion rates for its 0.875%
Senior Convertible Debentures due 2021 (CUSIP No. 867652 AJ8) (the
"2021 Debentures") and its 4.000% Senior Convertible Debentures due
2023 (CUSIP No. 867652 AL3) (the "2023 Debentures" and, together
with the 2021 Debentures, the "Debentures"). The rates were
adjusted pursuant to the terms of the respective indentures
governing the Debentures (the "Indentures").
Effective September 11, 2020, the
new conversion rates are 25.1388 shares of SunPower's common stock
per $1,000 principal amount of 2021
Debentures (equivalent to a conversion price of $39.78 per share) and 40.1552 shares of
SunPower's common stock per $1,000
principal amount of 2023 Debentures (equivalent to a conversion
price of $24.90 per share).
The conversion rates were previously 20.5071 shares of
SunPower's common stock per $1,000
principal amount of 2021 Debentures and 32.7568 shares of
SunPower's common stock per $1,000
principal amount of 2023 Debentures. Notice of the conversion
rate adjustment was delivered to Wells Fargo Bank, National
Association, the trustee, in accordance with the terms of the
Indentures.
About SunPower
Headquartered in California's Silicon Valley, SunPower
(NASDAQ:SPWR) is a leading Distributed Generation Storage and
Energy Services provider in North
America. SunPower offers the only solar + storage solution
designed and warranted by one company that gives customers control
over electricity consumption and resiliency during power outages
while providing cost savings to homeowners, businesses,
governments, schools and utilities. For more information, visit
www.sunpower.com.
© 2020 SunPower Corporation. All Rights Reserved. SUNPOWER and
the SUNPOWER logo are registered trademarks of SunPower Corporation
in the U.S.
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SOURCE SunPower Corp.