SunPower Corp (NASDAQ:SPWR) shares are trading higher. The company on Thursday provided a financing update.
What Happened: SunPower announced that it received additional waiver extensions from Atlas Securitized Products Holdings and Bank of America, extending the latest temporary waivers until Feb. 16.
The residential solar company also announced that it received commitments for $20 million in financing from majority shareholders TotalEnergies and Global Infrastructure Partners.
“SunPower will use the runway afforded by this financing and the extensions to continue discussions with key financial partners as it evaluates all strategic alternatives toward a long-term financial solution,” the company said.
SunPower is set to report fourth-quarter financial results before the market open on Feb. 15. Analysts are anticipating a loss of 24 cents per share and revenue of $362.852 million, ...