SunPower Corp. (Nasdaq: SPWR) has priced its public offering of $175 million of 1.25% senior convertible debentures due 2027. SunPower has also granted the underwriters of such offering an option to purchase up to an additional $25 million aggregate principal amount of the debentures.
The solar cells and panels maker said it is also offering up to 2.9 million shares of its class A common stock, all of which are being borrowed by an affiliate of Lehman Brothers Inc.
Closing of the public offering is expected to occur on February 7.
SunPower intends to use the net proceeds for general corporate purposes, including working capital and capital expenditures.
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