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SunPower Corporation Message Board

  • post_looks_10a_brass post_looks_10a_brass Apr 3, 2007 1:29 AM Flag

    60 Days After February 2, 2007 is When?

    Let's see... 26 + 31 + 3 = 60 days. April 4, right?

    QUOTE - Substantial future sales or other dispositions of our class A common stock or other securities could cause our stock price to fall.
    Sales of our class A common stock in the public market or sales of any of our other securities, or the perception that such sales could occur, could cause the market price of our class A common stock to decline. As of February 23, 2007, SunPower had 22,318,702 shares of class A common stock outstanding, and Cypress owned the 52,033,287 outstanding shares of SunPower�s class B common stock, representing approximately 70% of the total outstanding shares of SunPower�s common stock. Cypress may convert these shares into class A common stock at any time. Cypress has no contractual obligation to retain its shares of class A common stock, except that Cypress has agreed not to sell or distribute any of its shares of our common stock without the consent of Lehman Brothers Inc. and Credit Suisse Securities (USA) LLC until 60 days after February 2, 2007, the date of prospectus supplement for the debentures. Subject to applicable United States federal and state securities laws, Cypress may sell or distribute to its stockholders any or all of the shares of our common stock that it owns, which may or may not include the sale of a controlling interest in us. Cypress announced on October 6, 2006 and reiterated on October 19, 2006 that it was exploring ways in which to allow its stockholders to fully realize the value of its investment in SunPower. Cypress has made public statements since October 19, 2006 that were consistent with these announcements. - END QUOTE

    Lots hype + heavy short = danger.

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