Item 2. Identity and Background.
Item 2 to the Original Schedule 13D is hereby supplemented and amended by adding the following:
SunPower Equity Holdings, LLC is a member managed limited liability company organized under the laws of the state of Delaware. SunPower Corporation is the sole
member of SunPower Equity Holdings, LLC. SunPower Equity Holdings, LLCs principal business is to act as a holding company for certain shares of Common Stock to facilitate the transactions contemplated by the Pledge Agreement and Loan
Agreement.
During the past five years neither SunPower nor, to the best of SunPowers knowledge, any of its directors, executive officers or control
persons (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) has been party to a civil proceeding of a judicial or administrative body of a competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 to the Original Schedule 13D is hereby supplemented and amended by adding the following:
SunPower Corporation contributed 6,500,000 shares of Common Stock to its wholly-owned subsidiary SunPower Equity Holdings, LLC in exchange for 100% of the
membership interest in SunPower Equity Holdings, LLC. No additional consideration was paid for the shares of Common Stock.
Item 4. Purpose of
Transaction
The information set forth in the cover pages and in Item 2 and Item 3 hereof is incorporated by reference into this Item 4.
The third paragraph of Item 4 to the Original Schedule 13D is hereby amended and restated in its entirety as follows:
The shares of Common Stock that may be deemed to be beneficially owned by SunPower, as reported herein, were acquired for investment purposes. SunPower
retains the right to change its investment intent from time to time, and to engage in transactions to acquire, sell, hedge, pledge, or use as collateral for one or more loans or credit facilities the shares of Common Stock or other securities of the
Issuer owned by it, based on market conditions and other factors it may deem relevant. Except as described herein, SunPower currently has no other plans or proposals which would be related to or would result in any of the matters described in Items
4(a)-(j) of the Instructions to Schedule 13D. However, as part of the ongoing evaluation of the investment and investment alternatives, SunPower may consider such matters and, subject to applicable law, may formulate a plan with respect to such
matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board of Directors of the Issuer or other third parties regarding such matters.