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SunPower enters $2 million SAFE private placement with CEO affiliate trust

SPWR•2026-08-28

SunPower announces related-party SAFE financing

SunPower entered a $2 million private placement via a SAFE with the Rodgers Massey Revocable Living Trust on Aug. 24, 2026.

The trust is affiliated with CEO and Chairman Thurman J. Rodgers, making the financing a related-party transaction.

The SAFE converts automatically in the next equity financing at the deal price, with no discount, subject to Nasdaq listing rules.

The security was sold without registration under the Securities Act exemption in Section 4(a)(2).

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SunPower enters $2 million SAFE private placement with CEO affiliate trust - SPWR News | Rallies