Zhonghuan Singapore Files Amendment 8 for Maxeon Solar

TL;DR

Zhonghuan Singapore updated its filing for Maxeon Solar. Watch for changes.

AI Summary

On August 21, 2024, Zhonghuan Singapore Investment & Development Pte. Ltd. filed an amendment (No. 8) to its Schedule 13D regarding Maxeon Solar Technologies, Ltd. The filing indicates a change in the reporting person's holdings or intentions concerning Maxeon Solar Technologies, Ltd. The specific details of the change, such as the number of shares or the nature of the intent, are not fully detailed in the provided excerpt.

Why It Matters

This filing signals a potential shift in the ownership structure or strategic intentions of a significant holder in Maxeon Solar Technologies, which could impact the company's stock performance and future direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in a significant shareholder's position or strategy, which can introduce uncertainty and potential volatility for the stock.

Key Players & Entities

• Maxeon Solar Technologies, Ltd. (company) — Subject Company
• Zhonghuan Singapore Investment & Development Pte. Ltd. (company) — Filing Party
• TCL Zhonghuan Renewable Energy Technology Co., Ltd. (company) — Group Member

FAQ

Key Financial Figures

• $30,019.41 — ares for an aggregate exercise price of $30,019.41. TZS exercised the TZS Warrant to maint

Filing Documents

• ef20034337_sc13da.htm (SC 13D/A) — 72KB
• 0001140361-24-038079.txt ( ) — 74KB

of the Schedule 13D is hereby supplemented by adding the following

Item 3 of the Schedule 13D is hereby supplemented by adding the following: On August 13, 2024, pursuant to the previously disclosed Warrant issued to TZS on June 20, 2024 (the " TZS Warrant "), TZS exercised its TZS Warrant to purchase from the Issuer a total of 3,019,041 Ordinary Shares for an aggregate exercise price of $30,019.41. TZS exercised the TZS Warrant to maintain its 23.53% ownership percentage in the Issuer upon an increase in the number of outstanding Ordinary Shares after the filing of Amendment No. 7 resulting from voluntary conversions by holders of certain of the Issuer's Convertible Second Lien Senior Secured Notes due 2028 (the " 2L Notes ") into Ordinary Shares. The source of funds used for TZS's exercise of the TZS Warrant was funds of TZS Parent and its affiliates available for investment. Item 4. Purpose of Transaction.

of the Schedule 13D is hereby supplemented by adding the following

Item 4 of the Schedule 13D is hereby supplemented by adding the following: On August 13, 2024, TZS exercised the TZS Warrant to purchase from the Issuer a total of 3,019,041 Ordinary Shares. TZS exercised the TZS Warrant to maintain its 23.53% ownership percentage in the Issuer upon an increase in the number of outstanding Ordinary Shares after the filing of Amendment No. 7 resulting from voluntary conversions by holders of certain of the Issuer's 2L Notes into Ordinary Shares. Other than as described in Item 4 of this Amendment No. 8 or as previously reported in the Schedule 13D, the Reporting Persons do not currently have any plans or proposals that relate to, or would result in, any of the actions described in Item 4 of Schedule 13D, although, subject to the Shareholders Agreement and depending on the factors discussed herein, the Reporting Persons, at any time and from time to time, may review, reconsider and/or change their position or purpose or formulate different plans or proposals with respect thereto and, at any time and from time to time, may seek to influence the Board or management of the Issuer with respect to the business and affairs of the Issuer and may from time to time consider pursuing or proposing such matters with advisors, the Issuer or other persons. Item 5. Interest in Securities of the Issuer.

of the Schedule 13D is hereby amended and restated as follows

Item 5 of the Schedule 13D is hereby amended and restated as follows: (a) – (b) The responses of the Reporting Persons to Rows 7 through 13 of the cover pages of this Amendment No. 8 are incorporated herein by reference. As of the date hereof, TZS is the direct owner of and may be deemed to have shared voting and dispositive power with respect to, and TZS Parent may be deemed to beneficially own and have shared voting and dispositive power with respect to, 150,460,989 Ordinary Shares held by TZS (including the Ordinary Shares acquired by TZS upon exercise to date of the TZS Warrant as described herein and 19,076,197 Ordinary Shares issued to TZS on August 20, 2024 on account of an interest payment on the Issuer's 7.50% Convertible First Lien Senior Secured Notes due 2027 held by TZS), representing in the aggregate approximately 26.04% of the outstanding Ordinary Shares (such percentage is based on 577,767,196 Ordinary Shares outstanding as of August 20, 2024, according to information provided by the Issuer to the Reporting Persons (including the Ordinary Shares issued to TZS as a result of TZS's exercise of the TZS Warrant on August 13, 2024 and 19,076,197 Ordinary Shares issued to TZS on August 20, 2024 on account of an interest payment on the Issuer's 7.50% Convertible First Lien Senior Secured Notes due 2027 held by TZS)). (c) On August 13, 2024, TZS exercised the TZS Warrant to purchase from the Issuer a total of 3,019,041 Ordinary Shares. On August 20, 2024, the Issuer issued 19,076,197 Ordinary Shares to TZS on account of an interest payment on the Issuer's 7.50% Convertible First Lien Senior Secured Notes due 2027 held by TZS. (d) Not applicable. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

of the Schedule 13D is hereby supplemented by adding the following

Item 6 of the Schedule 13D is hereby supplemented by adding the following:

of this Amendment No. 8 is incorporated herein by reference

Item 4 of this Amendment No. 8 is incorporated herein by reference.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date : August 21, 2024 TCL Zhonghuan Renewable Energy Technology Co., Ltd. By: /s/ Zhang Changxu Name: Zhang Changxu Title: Authorized Signatory Zhonghuan Singapore Investment and Development Pte. Ltd. By: /s/ Qin Shilong Name: Qin Shilong Title: Authorized Signatory

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View this SC 13D/A filing on SEC EDGAR