SunPower Announces Delay in Filing Form 10-K

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SunPower Corp. (SPWR) announces a delay in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, due to restatements of prior period financial statements, providing an automatic extension of fifteen days to file the Form 10-K.

RICHMOND, Calif., Feb. 29, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that it filed a Form 12b-25 with the Securities and Exchange Commission to provide notice of the delayed filing of its Annual Report on Form 10-K ("Form 10-K") for the fiscal year ended December 31, 2023. SunPower requires additional time to complete its financial statements included in the Company's Form 10-K. This is due the time and effort that was required to complete restatements of the Company's prior period financial statements, which were filed with the SEC on December 18, 2023.  

Filing a Form 12b-25 will provide the Company with an automatic extension of fifteen additional calendar days to file the Form 10-K, which is due on February 29, 2024. SunPower expects to file the Form 10-K as soon as practicable. 

About SunPower
SunPower (NASDAQ: SPWR) is a leading residential solar, storage and energy services provider in North America. SunPower offers solar + storage solutions that give customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners. For more information, visit www.sunpower.com. 

Forward Looking Statements 
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding the anticipated timing of the filing of the Form 10-K. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results, performance, or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the finalization of the Company's financial statements for the period ended December 31, 2023, and the risks and other important factors discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-K/A filed with the SEC on December 18, 2023, and the Company's other filings with the SEC. All forward-looking statements in this press release are based on information currently available to us and speak only as of the date of this press release. The Company assumes no obligation to, and expressly disclaims any responsibility to, update or alter these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.  

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SOURCE SunPower Corp.

FAQ

Why did SunPower file a Form 12b-25 with the SEC?

SunPower filed a Form 12b-25 with the SEC to provide notice of the delayed filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

What is the reason for the delay in filing the Form 10-K?

The delay in filing the Form 10-K is due to the time and effort required to complete restatements of SunPower's prior period financial statements.

How long is the extension provided to SunPower for filing the Form 10-K?

SunPower has been provided an automatic extension of fifteen additional calendar days to file the Form 10-K.

When is the Form 10-K due to be filed by SunPower?

The Form 10-K is due to be filed by SunPower on February 29, 2024.