RICHMOND, Calif. - SunPower Corp. (NASDAQ:SPWR), a prominent provider of residential solar technology and energy services, disclosed today that it has notified the Securities and Exchange Commission (SEC) of a delay in filing its Annual Report on Form 10-K for the fiscal year that concluded on December 31, 2023.
The company submitted a Form 12b-25, which grants a 15-day extension beyond the original due date of February 29, 2024, to finalize its financial statements.
The postponement is attributed to the time required to complete the restatements of SunPower's financial statements from previous periods, which were submitted to the SEC on December 18, 2023. SunPower has stated its intent to file the Form 10-K as promptly as possible within the extended timeframe.
SunPower is recognized for its solar plus storage solutions that offer homeowners the ability to manage electricity use and maintain power during outages, while also delivering cost savings.
The company's forward-looking statements indicate an anticipated timeline for the filing but also acknowledge the risks and uncertainties that could affect this process. These include the completion of financial statements for the period ending December 31, 2023, and other risk factors outlined in the company's filings with the SEC.
Investors and stakeholders are advised that the information provided is based on the company's current knowledge and circumstances, which are subject to change. SunPower emphasizes its commitment to updating the public as necessary in compliance with the law.
The announcement serves as a reminder of the complexities involved in financial reporting and the regulatory requirements companies must adhere to. SunPower's situation underscores the importance of thorough and accurate financial documentation in the corporate sector. The company's news release was sourced from a press release statement.
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