Maxeon Solar Technologies (MAXN) has released an update.
Maxeon Solar Technologies has announced a significant ownership change, with Zhonghuan Singapore Investment and Development acquiring a 69.30% voting share, triggering a Fundamental Change clause for the holders of its 2025 Green Convertible Senior Notes. Note holders now have the right to require the company to repurchase their notes at a set price, with the repurchase date set for November 14, 2024. This financial maneuver follows Maxeon’s strategy to align with its new majority shareholder and provides options for note investors in light of the ownership transition.
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