Bankruptcy | SUNPOWER CORP-CLASS A | 9th August 2024
On August 5, 2024 SUNPOWER CORP filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code while it has entered into an asset purchase agreement with Complete Solaria, Inc. Under the terms of the APA, subject to Court approval, Complete Solaria will acquire the Assets and assume certain related liabilities for USD 45 million in cash. SUNPOWER CORP has requested Court approval to access the necessary prepetition cash collateral to fund business operations and administrative expenses during the Chapter 11 cases. SUNPOWER COR INC will be removed from the indices effective August 9, 2024, based on its last close price. Please note, the final removal price will depend on the stock trading status. If it is not trading on the primary stock exchange or any alternative eligible exchange, then the removal price will be zero.
The treatment below will be applied to the following indices:
- SUNPOWER CORP-CLASS A will be removed from the Index.
- The weight of SUNPOWER CORP-CLASS A (SPWR.OQ) based on its last close price will be distributed pro rata to remaining Index constituents.
- Effective Date (open): 09/08/2024
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