SunPower shares fall after Chapter 11 bankruptcy protection filing

Sunpower

06/08/2024 10:29

** SunPower's  SPWR.O  shares fall 27% to 59 cents premarket
    ** Solar firm filed for U.S. Chapter 11 bankruptcy and
entered into a 'stalking horse' agreement with Complete Solaria
 CSLR.O  to sell some of its business for $45 mln in cash
    ** Other interested parties must breach the stalking horse
bid if they want to buy the asset or the company
    ** SPWR listed its assets and liabilities in the range of $1
bln to $10 bln, in a filing with the bankruptcy court in
Delaware
    ** SPWR, valued at $141.8 mln as of last close, has lost 91%
of its value in the past 12 months

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))