Zhonghuan Singapore Updates Maxeon Solar Holdings Filing

TL;DR

Zhonghuan Singapore filed an update on its Maxeon Solar stake, no major changes detailed yet.

AI Summary

Zhonghuan Singapore Investment & Development Pte. Ltd. filed an amendment (No. 10) to its Schedule 13D on November 26, 2024, regarding its holdings in Maxeon Solar Technologies, Ltd. The filing indicates a change in the date as of which the information is current, but does not specify new share acquisitions or disposals. The previous filing date was not provided in this excerpt.

Why It Matters

This amendment signals ongoing reporting requirements and potential strategic adjustments by a significant shareholder in Maxeon Solar Technologies, Ltd., impacting investor perception and market dynamics.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or shifts in control, requiring close monitoring by investors.

Key Players & Entities

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

FAQ

Key Financial Figures

• $10 million — first installment shall be no less than $10 million (the " First Installment ") and the fin
• $30 million — irst installment being in the amount of $30 million. For a period of twelve months followi

Filing Documents

• ef20039265_sc13da.htm (SC 13D/A) — 88KB
• 0001140361-24-047914.txt ( ) — 90KB

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

Item 4 of the Schedule 13D is hereby supplemented by adding the following: Entry Into Term Sheet On November 25, 2024 , TZS Parent and the Issuer entered into a partially binding term sheet (the " Term Sheet "), whereby, on the terms and subject to the conditions set forth therein, TZS Parent and/or its subsidiaries agreed to (i) purchase and the Issuer agreed to sell the Issuer's non-US, "rest-of-the-world" distributed generation business through the purchase and sale of 100% of the equity interests in certain direct and indirect non-U.S. subsidiaries of the Issuer organized under the laws of the following jurisdictions: Malta, United Kingdom, Israel, Italy, Germany, the Netherlands, Spain, Mexico, Belgium, Australia, Chile, Korea, and Japan (collectively, the " Target Entities "); and (ii) the possible ancillary sale by the Issuer to TZS Parent of certain French entities and their subsidiaries (the " French Entities "), to the extent the Issuer elects to exercise a put option (the " Put ") in relation to the proposed sale of these French entities, which Put under French labor laws may only be exercised after the relevant works council has been informed and consulted with regard to the proposed transaction subject to the Put (collectively, the " Potential Acquisition "). In connection with the Potential Acquisition, the Term Sheet provides that the Issuer will also contribute via transfer, assignment, conveyance or delivery to TZS Parent, of the following assets to be agreed upon between the parties at the time of the execution of the definitive purchase agreement with respect to the Potential Acquisition (the " Other Assets " and together with the Target Entities, the " Transferrable Assets "): the rights, title and interest in certain trademarks existing outside of the United States; certain tangible and intangible assets, contracts and business relationships which pertain to the Issuer's non-U.S. "rest-of-the-world" distributed generation business; and c

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. 10 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, 9,959,362 Ordinary Shares held by TZS, representing in the aggregate approximately 59.6% of the outstanding Ordinary Shares (such percentage is based on 16,710,527 Ordinary Shares outstanding as of November 24, 2024, according to information provided by the Issuer to the Reporting Persons). (c) During the past sixty days, the Reporting Persons have not effected any transactions in the Issuer's Ordinary Shares. (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. 10 is incorporated herein by reference

Item 4 of this Amendment No. 10 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 : November 26, 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/ Zhang Changxu Name: Zhang Changxu Title: Authorized Signatory

View Full Filing

View this SC 13D/A filing on SEC EDGAR