SunPower has announced that it raised $175 million in capital financing through a second lien term loan from Sol Holding, the company’s majority shareholder and indirect subsidiary of TotalEnergies and Global Infrastructure Partners.
The term loan includes $45 million previously funded to the company in December and January, $80 million in new investment and a $50 million second tranche available to be borrowed upon the satisfaction of certain conditions.
SunPower also obtained new long-term waivers from its financial partners and entered into an amendment to its revolving debt facility. Together, these actions provide the company with up to $155 million of additional liquidity.
“This transaction demonstrates the strong conviction of our financial partners in the long-term value proposition of residential solar, storage and renewable energy services, as well as SunPower’s ability to deliver operational excellence for our customers,” said Peter Faricy, SunPower CEO. “With this injection of additional liquidity and working capital to our balance sheet, coupled with substantial cost reductions, SunPower is taking positive steps to position itself to succeed in 2024 and beyond.”
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SunPower Secures Additional Capital, Revolving Debt from Sol Holding
Every day, our nation’s face is pushed a little bit further into the toilet.
Gotta love the creativity, and certainly the sentiment, that is captured by the artist whose work we see here.
In reality, however, Lady Liberty should be depicted sitting with slumped shoulders, tears rolling down her cheeks.
There has never been a moment anything like the present in U.S. history. A sociopathic criminal in the White House, bolstered by traitors in both Congress and the Supreme Court.
It’s always encouraging to see the emergence of another brilliant astrophysicist into our culture — not that his message here is particularly encouraging.
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