SunPower issued 7.1 million shares in conversions of 4.75% debentures prior to maturity

By Jennifer Chiou

New York, April 16 - SunPower Corp. issued a total of about 7.1 million shares of its common stock to holders who exercised their conversion rights prior to maturity for their 4.75% senior convertible debentures due 2014, according to an 8-K filing with the Securities and Exchange Commission.

At maturity on April 15, the company said it paid roughly $41.7 million in cash to holders who had not exercised their conversion rights.

The company issued $230 million of the debentures on April 28, 2009.

SunPower is a San Jose, Calif.-based provider of high-efficiency solar cells, solar panels and solar systems.

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