Summary by Moomoo AI
SunPower received multiple default notices from Hannon Armstrong Sustainable Infrastructure Capital (HASI) affiliates on August 6, 2024, regarding mezzanine loan agreements totaling approximately $347.7 million in unpaid principal. The defaults are connected to the company's Chapter 11 bankruptcy filing and related events.Nasdaq has notified SunPower of its decision to delist the company's common stock, citing the Chapter 11 filing and non-compliance with periodic financial reporting requirements. Trading will be suspended on August 16, 2024, and the stock is expected to transition to the Pink Open Market (pink sheets).The company does not plan to appeal the delisting decision. The transition to pink sheets trading is likely to result in reduced liquidity and potentially lower trading prices for SunPower's common stock, with no assurance of continued trading or sufficient trading volume on this alternative market.
