0000867773SUNPOWER CORPfalse00008677732021-02-252021-02-25
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 25, 2021
SunPower Corporation
(Exact name of registrant as specified in its charter)
001-34166
(Commission File Number)
| | | | | |
| Delaware | 94-3008969 |
(State or other jurisdiction
of incorporation) | (I.R.S. Employer
Identification No.) |
51 Rio Robles, San Jose, California 95134
(Address of principal executive offices, with zip code)
(408) 240-5500
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| | | | | |
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | | | | |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| | | | | |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | | | | |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | |
| Title of each class | Trading Symbol | Name of exchange on which registered |
| Common Stock | SPWR | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| | | | | |
| Item 1.01. | Entry into a Material Definitive Agreement. |
On February 25, 2021, SunPower Corporation (the “Company”) entered into a First Amendment to Supply Agreement (the “Amendment”) with Maxeon Solar Technologies, Ltd., a Singapore public company limited by shares (“Maxeon Solar”). The Amendment amends the Supply Agreement by and between the Company and Maxeon Solar, dated August 26, 2020, pursuant to which the Company agreed to purchase from Maxeon Solar, and Maxeon Solar agreed to sell to the Company, certain products for use in residential and commercial solar applications in designated territories. The Amendment provides, in relevant part, for certain adjustments to the scope of product offerings, agreed minimum quarterly commitments and pricing, exclusivity, and product warranty terms.
The foregoing description of the Amendment is not a complete description of all terms of the Amendment and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as an exhibit to this current report on Form 8-K and incorporated by reference herein.
| | | | | |
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| | | | | |
| Exhibit No. | Description |
| 10.1 | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | | | | | | |
| | |
| SUNPOWER CORPORATION |
| | |
| March 3, 2021 | By: | /S/ MANAVENDRA S. SIAL |
| Name: | Manavendra S. Sial |
| Title: | Executive Vice President and
Chief Financial Officer |