SunPower Seeks To Have Complete Solar Designated As The Stalking Horse In Its Chapter 11 Bankruptcy APA With A $45M Bid For Certain Assets
Portfolio Pulse from Benzinga Newsdesk
SunPower is seeking to have Complete Solar designated as the stalking horse in its Chapter 11 bankruptcy APA with a $45 million bid for certain assets. Complete Solar (NASDAQ:CSLR) published its Q2'24 results, showing low revenue due to lack of working capital, but raised $46 million in July 2024 to stabilize operations. The hearing for the stalking horse motion is scheduled for August 29, with a likely sale closing by the end of September 2024.
August 14, 2024 | 12:37 pm
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Complete Solar (NASDAQ:CSLR) is involved in SunPower's Chapter 11 bankruptcy as the stalking horse with a $45 million bid for certain assets. CSLR's Q2'24 revenue was low due to lack of working capital, but the company raised $46 million in July 2024 to stabilize operations.
Complete Solar's involvement in SunPower's bankruptcy as the stalking horse bidder and its recent capital raise are likely to positively impact its stock price in the short term. The $45 million bid and assumption of liabilities show a strategic move to stabilize and expand operations.
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