Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 21, 2026, SunPower Inc. (the “Company”) received written notice (the “Notice”) from the Nasdaq Stock Market, LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing o…
SunPower Inc. (the “Company”) is the rebranded name of Complete Solaria, Inc. The rebranding was effective April 22, 2025 and became legally effective on October 17, 2025. We are headquartered in Orem, Utah.
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Item 3.01Item 3.01 - Notice of Delisting
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On July 21, 2026, SunPower Inc. (the “Company”)
received written notice (the “Notice”) from the Nasdaq Stock Market, LLC (“Nasdaq”) notifying the
Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued
listing on The Nasdaq Global Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of $1.00
per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues
for a period of 30 consecutive business days.
The Notice does not impact the listing of the
Company’s common stock on The Nasdaq Global Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company
has 180 calendar days to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the
Company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days before January 19, 2027.
In the event that the Company does not regain compliance within this 180-day period, subject to compliance with certain further requirements,
the Company may be eligible to seek an additional compliance period of 180 calendar days if it meets the continued listing requirement
for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of
the minimum bid price requirement, and provides written notice to Nasdaq of its intent to cure the deficiency during this second compliance
period by effecting a reverse stock split if necessary. However, if it appears to the Nasdaq staff that the Company will not be able to
cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice to the Company that its common stock will
be subject to delisting.
The Company intends to actively monitor the closing bid price of its
common stock and will evaluate available options to regain compliance with the minimum bid price requirement.