# Source: SunPower — Chapter 11 Stalking Horse Press Release (2024)

**Type:** source
**Status:** Useful
**Confidence:** High
**Source Type:** filing
**URL:** https://www.sec.gov/Archives/edgar/data/867773/000086777324000086/ex991_202485pressrelease.htm
**Publisher:** U.S. Securities and Exchange Commission (EDGAR) / SunPower Corp.
**Published:** 2024-08-05
**Retrieved:** 2026-08-12
**Updated:** 2026-08-11
**Relates:** cites [Blue Raven Solar](blue-raven-solar.md) · https://greatutah.work/pages/blue-raven-solar.md · https://www.sec.gov/Archives/edgar/data/867773/000086777324000086/ex991_202485pressrelease.htm

## Summary

SunPower Corp. Exhibit 99.1 press release filed 2024-08-06 with Form 8-K accession
**0000867773-24-000086**, announcing voluntary **Chapter 11** petitions and a stalking-horse asset
purchase agreement with **Complete Solaria, Inc.** for Blue Raven Solar and other businesses.

## Useful Claims

- SunPower entered an asset purchase agreement with **Complete Solaria, Inc. (NASDAQ: CSLR)** as
  **stalking horse buyer** for assets associated with SunPower's **Blue Raven Solar** business, New
  Homes business, and non-installing dealer network.
- SunPower and subsidiaries filed **voluntary petitions under Chapter 11** in the U.S. Bankruptcy
  Court for the District of Delaware.
- Under the APA terms stated in the release, Complete Solaria would acquire the assets for **$45
  million in cash**, subject to court approval and higher bids.
- SunPower stated it intended to **operate Blue Raven Solar and New Homes through the Chapter 11
  process** while pursuing sale transactions for remaining assets.

## Verbatim

> "SunPower Announces Stalking Horse Asset Purchase Agreement with Complete Solaria to Sell Blue Raven Solar, New Homes, and its Non-Installing Dealer Network"
> — Headline

> "Files voluntary Chapter 11 petitions to effectuate the proposed transaction"
> — Subhead

> "SunPower ... entered into an asset purchase agreement (the “APA”) with Complete Solaria, Inc. (NASDAQ: CSLR) (“Complete Solaria”) to serve as the Stalking Horse Buyer for the assets associated with SunPower’s Blue Raven Solar business, New Homes business, and non-installing Dealer network (the “Assets”)."
> — Body

> "Concurrently, SunPower and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the District of Delaware."
> — Body

> "Under the terms of the APA, subject to Court approval, Complete Solaria will acquire the Assets and assume certain related liabilities for $45 million in cash."
> — Body

## Reliability Notes

Filed press release at bankruptcy filing — primary-tier. Announced terms are not necessarily the final
sale order; later Complete Solaria filings renamed the registrant **SunPower Inc.** while retaining
CIK 0001838987.

## Related Pages

- [Blue Raven Solar](blue-raven-solar.md)
- [Source: Complete Solaria — SunPower Asset Purchase 8-K (2024)](complete-solaria-sunpower-asset-purchase-8k-2024.md)