What Happened to SunPower?
Ticker: SPWRSPAC Year: 2021
Return
-87.9%
Current Price
$0
Peak Price
$16
Trust Size
$208M
Summary
SunPower was one of the largest residential solar installers in the United States, providing solar panels, battery storage, and energy management systems. The company filed for Chapter 11 bankruptcy in August 2024, agreeing to sell some assets to Complete Solaria for $45 million.
What Happened
SunPower had been a leading solar company for decades before going public via SPAC-related transaction. As solar panel prices collapsed and interest rates rose, SunPower's residential business cratered. The company filed for Chapter 11 bankruptcy in August 2024. By September 2024, SunPower had ceased all customer support operations. Its assets were sold off to various buyers.
Timeline
2021-02-18
S-1 Registration Filed