SAN JOSE, Calif., July 13, 2020 /PRNewswire/ -- Maxeon Solar
Technologies, the planned spinoff of SunPower Corp. (NASDAQ:SPWR)
will host a virtual capital markets event at 9 am, Pacific, Thursday,
July 16, 2020. It will be webcast and can be accessed from
SunPower's website at http://investors.sunpower.com/events.cfm.
Key members of Maxeon's leadership team including Jeff Waters, CEO and Joanne Solomon, CFO, will participate and
address strategy, financials and competitive strengths.
Maxeon will combine its leading global sales channel with
pioneering solar innovation and capital-efficient manufacturing,
marketing SunPower branded panels outside the US and Canada through its industry-leading network of
more than 1,100 sales and installation partners.
As previously announced, Maxeon will list its shares on the
NASDAQ under the symbol MAXN. SunPower anticipates closing the
planned Maxeon spin-off during the third quarter of 2020.
About SunPower
As one of the world's most innovative
and sustainable energy companies, SunPower (NASDAQ:SPWR) provides a
diverse group of customers with complete solar solutions and
services. Residential customers, businesses, governments, schools
and utilities around the globe rely on SunPower's more than 30
years of proven experience. From the first flip of the switch,
SunPower delivers maximum value and superb performance throughout
the long life of every solar system. Headquartered in Silicon
Valley, SunPower has dedicated, customer-focused employees in
Africa, Asia, Australia, Europe, and North and South America. For more information about how
SunPower is changing the way our world is powered, visit
www.sunpower.com.
Forward Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements regarding the anticipated spin-off of
Maxeon, including timing and certainty, the anticipated benefits of
the transaction, and our expectations for future financial and
operational performance. These forward-looking statements are based
on our current assumptions, expectations and beliefs and involve
substantial risks and uncertainties that may cause results,
performance or achievement to materially differ from those
expressed or implied by these forward-looking statements. Factors
that could cause or contribute to such differences include, but are
not limited to challenges in executing transactions key to our
strategic plans, including regulatory, logistical, and other
challenges that may arise, potential disruptions to our operations
that may result from epidemics or natural disasters, including
impacts of the COVID-19 pandemic, market conditions, including
those related to COVID-19 and its effect on the financial markets
and our ability to finalize the financing for the transaction, and
other closing conditions and approvals related to the transaction.
A detailed discussion of these factors and other risks that affect
our business is included in filings we make with the Securities and
Exchange Commission (SEC) from time to time, including our most
recent reports on Form 10-K and Form 10-Q, particularly under the
heading "Risk Factors." Copies of these filings are available
online from the SEC or on the SEC Filings section of our Investor
Relations website at investors.sunpower.com. All
forward-looking statements in this press release are based on
information currently available to us, and we assume no obligation
to update these forward-looking statements in light of new
information or future events.
© 2020 SunPower Corporation. All Rights Reserved. SUNPOWER,
MAXEON and the SUNPOWER logo are registered trademarks of SunPower
Corporation in the U.S. and other countries as well.
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SOURCE SunPower Corp.