SunPower Proposes Issuing Bonus Shares to Replace Cash Interest Payments on 12% and 7% Notes

SunPower Corporation has proposed a plan to issue bonus shares to holders of its 12% and 7% notes in place of cash payments for the next two interest cycles. The company submitted this proposal to noteholders as an alternative method for fulfilling its upcoming debt obligations.

Under the terms of the proposal, the company intends to distribute equity rather than liquid capital to satisfy the interest due on these specific debt instruments. This move follows the company’s ongoing financial management strategy regarding its outstanding notes. The proposal specifically covers the next two scheduled interest payments for both the 12% and 7% note series. SunPower has invited noteholders to review the details of the offer, which outlines the conversion process and the conditions under which the bonus shares will be issued.

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Date: June 2, 2026

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GOAI