Summary by Moomoo AI
Maxeon Solar Technologies has announced a Fundamental Change event for its 6.50% Green Convertible Senior Notes due 2025. This follows the company's sale of 829,187,396 ordinary shares to Zhonghuan Singapore Investment and Development Pte. Ltd. (TZE) on August 30, 2024, for $99,999,999.96.On September 4, 2024, TZE and its parent company became beneficial owners of 69.30% of Maxeon's voting power, triggering the Fundamental Change. Noteholders now have the right to require Maxeon to repurchase their notes. The Fundamental Change Repurchase Date is set for November 14, 2024, with a repurchase price of $1,021.486111 per $1,000 principal amount.The current Conversion Rate is 54.9611 Ordinary Shares per $1,000 principal amount of Notes, with no adjustments resulting from this event. Holders must deliver a Fundamental Change Repurchase Notice to the Paying Agent by the close of business on November 13, 2024, to exercise their repurchase rights.