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SunPower completes concurrent public offerings of equity and convertible debt

May 2009

Client(s) SunPower Corporation

Jones Day represented SunPower Corporation, a vertically integrated solar products and services company, in its public offerings of equity and convertible debt raising aggregate gross proceeds of approximately $450 million. Managing underwriters were Credit Suisse and Deutsche Bank.

The transaction included a "call spread overlay," which is a series of hedging transactions designed to effectively increase the conversion price of the convertible debenture in order to protect existing stockholders from dilution.

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