Maxeon Solar Technologies Files 6-K Report

TL;DR

Maxeon Solar (MAXN) filed a 6-K, standard foreign issuer report.

AI Summary

Maxeon Solar Technologies, Ltd. filed a Form 6-K on November 26, 2024. The filing indicates the company is a foreign private issuer and is submitting its report under Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934. The company's principal executive office is located in Singapore.

Why It Matters

This filing is a routine report for foreign private issuers, providing updates to the SEC and the public regarding the company's status and operations.

Risk Assessment

Risk Level: low — This filing is a routine administrative report and does not contain new material financial or operational information that would typically impact risk.

Key Numbers

• 001-39368 — SEC File Number (Identifies the company's filing with the SEC.)

Key Players & Entities

• Maxeon Solar Technologies, Ltd. (company) — Registrant
• 001-39368 (dollar_amount) — SEC File Number
• 20241126 (date) — Filing Date

FAQ

From the Filing

0001796898-24-000088.txt : 20241126 0001796898-24-000088.hdr.sgml : 20241126 20241126080130 ACCESSION NUMBER: 0001796898-24-000088 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20241126 FILED AS OF DATE: 20241126 DATE AS OF CHANGE: 20241126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Maxeon Solar Technologies, Ltd. CENTRAL INDEX KEY: 0001796898 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: U0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39368 FILM NUMBER: 241498197 BUSINESS ADDRESS: STREET 1: 8 MARINA BOULEVARD #05-02 STREET 2: MARINA BAY FINANCIAL CENTRE CITY: MARINA BAY STATE: U0 ZIP: 018981 BUSINESS PHONE: 408.457.2302 MAIL ADDRESS: STREET 1: 8 MARINA BOULEVARD #05-02 STREET 2: MARINA BAY FINANCIAL CENTRE CITY: MARINA BAY STATE: U0 ZIP: 018981 FORMER COMPANY: FORMER CONFORMED NAME: Maxeon Solar Technologies, Pte. Ltd. DATE OF NAME CHANGE: 20191213 6-K 1 form6-ktermsheet.htm 6-K Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 Date of Report: November 2024 Commission File Number: 001-39368 MAXEON SOLAR TECHNOLOGIES, LTD. (Exact Name of registrant as specified in its charter) 8 Marina Boulevard #05-02 Marina Bay Financial Centre 018981, Singapore (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐ Entry Into Partially Binding Term Sheets On November 26, 2024, Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) (“Maxeon or the “Company”) issued a press release announcing that the Company and TCL Zhonghuan Renewable Energy Technology Co Ltd. and/or its subsidiaries, the Company’s controlling shareholder (collectively, “TZE”), entered into a partially binding term sheet (the “Term Sheet”) in connection with the following potential transaction (the “Potential Acquisition”): • The potential acquisition by TZE of Maxeon’s non-US, ‘rest-of-the-world’ distributed generation business through acquisition of 100% equity interest in certain direct and indirect non-U.S. subsidiaries of Maxeon, 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”)&#59; and • The possible ancillary sale by Maxeon of certain French entities and their subsidiaries to TZE (the “French Entities”), to the extent Maxeon 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. The terms of such Put, such as the price and timing, will be detailed, negotiated and reflected in a separate agreement to be entered into by both parties. In connection with the Potential Acquisition, Maxeon will also contribute via transfer, assignment, conveyance or delivery to TZE, on a list to be agreed upon between the parties at the time of the execution of the definitive purchase agreement (referred hereinto as the “Other Assets” and together with the Target Entities, the “Transferrabl