SunPower Corp, a solar tech firm, has secured USD 175 million in capital financing via a second lien term loan from Sol Holding, its majority shareholder. The funding comprises USD 45 million from previous disbursements, USD 80 million in new investment, and a USD 50 million tranche pending certain conditions. In return, the company issued penny warrants for Sol Holding to buy around 41.8 million shares, with an extra 33.4 million if the second tranche is drawn. Additionally, the company extended its financial partnerships, amending its revolving debt facility for an extra USD 25 million, providing up to USD 155 million in additional liquidity.
Sol Holding supports SunPower with USD 175M funding
SunPower has secured USD 175M funding from Sol Holding, reinforcing its financial stability and supporting long-term sustainability. (Image Credit: pexels).
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