On September 2, 2026, SunPower Inc. entered into securities purchase agreements with various accredited investors, including entities affiliated with Thurman John "T.J." Rodgers, William Anderson, J. Daniel McCranie, and Devin Whatley. Under these agreements, the company agreed to issue and sell 103,109,005 shares of its common stock, with a par value of $0.0001 per share, for gross proceeds of approximately $26.2 million. The shares were sold at a price of $0.2541 per share, which equaled the Nasdaq Official Closing Price of the Common Stock on September 2, 2026.
The company stated that the proceeds from this private placement are intended to be used for working capital and general corporate purposes. The transaction is expected to close on September 4, 2026, subject to the satisfaction of closing conditions. SunPower also agreed to file a resale registration statement with the Securities and Exchange Commission on or before October 2, 2026.
In a press release dated September 3, 2026, SunPower highlighted that the majority of the investment came from investors from Sand Hill Road, the venture capital hub of Silicon Valley. The round was anchored by Foris Ventures, the family office of John Doerr, Chairman of Kleiner-Perkins. CEO T.J. Rodgers noted that the share price was currently hovering under $1 due to market conditions, but the company plans to return to profitability shortly. He cited the company's revenue of $300 million and its valuation of approximately $60 million as a key factor in the offering.
