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SunPower to Delist from Nasdaq After Chapter 11 Bankruptcy, Selling Assets to Complete Solaria for $45 Million

SunPower, a US residential solar company, is set to delist from the Nasdaq stock exchange on August 16 after filing for Chapter 11 bankruptcy and selling assets to Complete Solaria Inc for $45 million. The company received a notice from Nasdaq for failing to comply with listing rules and file periodic financial reports, leading to the delisting. Following cost-cutting measures, SunPower submitted voluntary Chapter 11 petitions and agreed to sell its Blue Raven Solar business, New Homes business, and non-installing dealer network to CompleteSolaria Inc. The transaction is pending court approval and is expected to be completed in mid to late September.

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