SunPower gains on fresh term loan of $175 mln, additional waivers

SunPower

15/02/2024 13:05

** Shares of solar firm SunPower  SPWR.O  up 5.1% at $4.48
premarket
    ** Says co has secured $175 mln in term loan from Sol
Holding, co's majority shareholder and an indirect subsidiary of
TotalEnergies and Global Infrastructure Partners
    ** Adds it has also obtained new long-term waivers from its
financial partners and entered into an amendment to its
revolving debt facility
    ** Co also reports a Q4 net loss of $115.6 mln compared with
a profit of $5.1 mln last year
    ** It forecasts 2024 net loss in the range of $80 mln to
$160 mln 
    ** Co had raised going concern doubts in December as it
breached the terms of a credit agreement due to a delay in
filing of quarterly results
    ** Stock had fallen 73.2% in 2023 

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))