Summary by Moomoo AI
SunPower Corporation, a leading solar technology and energy services provider, announced that its majority stockholder, Sol Holding, LLC, has approved the issuance of warrants to purchase shares of the company's common stock. This corporate action, taken by written consent dated February 14, 2024, in lieu of a special meeting, allows for the issuance of warrants equal to 20% or more of the common stock before the issuance for less than the market value of the stock. The approval was required under Nasdaq Rule 5635(d) for transactions involving the issuance of common stock at a price below the 'minimum price' and where the issuance equals 20% or more of the common stock or voting power outstanding before the issuance. The board of directors of...Show More
