SunPower Exchanges $10M Interest for Equity, Sees Q3 Growth With Record Backlog
SPWR•SPWR•SPWR•SPWR•SunPower exchanged $10 million of interest payments on its convertible notes for equity in a share swap accepted by all but one holder. CEO Rodgers said Q2’26 marked the U.S. residential solar industry’s trough, with cost cuts and record backlog positioning the company for strong Q3 growth.
SunPower completed a $10 million equity-for-interest exchange on its convertible notes due July 1, 2026 and January 1, 2027, with all but one investor participating in the share swap.
CEO T.J. Rodgers stated that Q2’26 represented the bottom quarter for the U.S. residential solar industry and highlighted measures taken to reduce costs and bolster financial flexibility.
The company enters Q3 with a record installation backlog and anticipates strong growth after implementing cost reductions and securing investor support.
