SunPower secures $20M SEPA agreement

SunPower (SPWR) has secured a Standby Equity Purchase Agreement with an affiliate of Yorkville Advisors Global for a committed $20M in funding from newly issued stock. The SEPA vehicle includes a pre-paid advance feature, which SunPower can draw on subject to various predetermined conditions. The discretionary aspect of the SEPA capital facility provides financial flexibility, an “insurance policy,” but does not dilute investors or trigger interest payments on the unused portions.