Standard Rule 144A terms. The notes will be convertible at the option of the holder, into common stock of CSLR and will contain all general customary investor protections found within Rule 144A convertible securities. Cantor Fitzgerald & Co. served as Sole Financial Advisor to Complete Solaria and Cooley LLP acted as legal counsel to the Company in connection with the transaction, whose terms are summarized below: Soft calls: $3.00 July 2027; $2.60 July 2028. The Company may not redeem the notes prior to Ju ...

Rodgers said, "We needed an experienced, business savvy, high-tech CFO to seed our headquarters finance group in Lehi, Utah, a suburb of Salt Lake City, the center of Utah's "Solar Valley," which has 21 solar companies. Dan Foley is our man. He received his MBA from the University of Southern California Marshall School of Business and his BS in Economics from the University of Utah. He also has the broad financial experience we need – over 25 years covering every critical function: Financial Planning & Anal ...

Aaron assumes the role of VP U.S. Operations, and will run the Company's main office in Salt Lake City, the center of America's "Solar Valley" from which many of America's solar companies operate. Complete Solaria CEO, T.J. Rodgers said, "Convincing Aaron to join our team is a big next step in our transformation. Silicon Valley taught me that hiring the best people is essential for success. And this rule of success now transfers to Aaron, who well understands this challenge and states on his resume that in ...

Financial Performance - Complete Solaria recorded an impairment charge of $147.5 million related to assets classified as held for sale during the year ended December 31, 2023[247]. - The company reported a net loss from discontinued operations of $7.8 million for the thirteen weeks ended April 2, 2023[365]. - For the thirteen weeks ended March 31, 2024, the company reported a net cash used in operating activities of $4.9 million, primarily due to a net loss from continuing operations of $9.6 million[364]. - The company experienced non-cash charges of $3.5 million, including $5.6 million related to forward purchase agreement liabilities and $2.5 million in interest accretion attributable to the CS Solis Debt[364]. Expenses and Liabilities - Sales and marketing expenses for the thirteen weeks ended March 31, 2024, were $1.6 million, an increase from $0.7 million for the same period in 2023, attributed to a $0.6 million rise in payroll and a $0.2 million increase in travel expenses[341]. - As of March 31, 2024, the company recorded a liability of $35.8 million in short-term debt, an increase from $33.3 million as of December 31, 2023[353]. - The company recorded other expense of $30.7 million related to forward purchase agreements with related parties for the fiscal year ended December 31, 2023[257]. Compliance and Regulatory Matters - The company has until October 14, 2024, to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share for ten consecutive business days[260]. - The company intends to monitor its market value of listed securities, which must close at or above $50 million for ten consecutive business days by October 14, 2024, to maintain its Nasdaq listing[262]. - The company identified material weaknesses in internal control over financial reporting, including insufficient full-time accounting personnel and inadequate risk assessment processes[373]. Financing and Capital Structure - The company has a potential cash inflow of up to $254.1 million from the exercise of warrants, contingent on market conditions[345]. - As of March 31, 2024, the weighted average exercise price of the warrants was $8.70, while the common stock price was $0.55[345]. - The company entered into a common stock purchase agreement with Kline Hill, involving the issuance of 9,800,000 shares and warrants to purchase up to 3,700,000 shares[264]. - The company raised $15.6 million in net cash from financing activities for the thirteen weeks ended April 2, 2023, primarily from the issuance of convertible notes[382]. - The company amended its forward purchase agreements to lower the reset floor price from $5.00 to $3.00 and allowed raising up to $10.0 million from existing stockholders without triggering anti-dilution provisions[359]. - The company entered into a simple agreement for future equity (SAFE) with an investment of $1.5 million, convertible into a maximum of 1,431,297 shares at a conversion price of $1.05[360]. Business Strategy and Market Position - The company aims to increase revenue by expanding installation capacity and entering new geographic markets, leveraging a network of partners for greater sales growth[244]. - The customer base primarily consists of residential homeowners, with accounts receivable not requiring collateral[387]. - As of March 31, 2024, two customers accounted for 10% or more of the total accounts receivable, net balance[387]. Risk Management - The company does not engage in off-balance sheet financing arrangements[383]. - As of March 31, 2024, the company does not have any outstanding variable rate debt, indicating no significant exposure to interest rate risk[386]. - The company remains classified as an "emerging growth company" and expects to continue to take advantage of the extended transition period for new financial accounting standards[369].

FREMONT, Calif., May 15, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. ("Complete Solaria" or the "Company") (NASDAQ:CSLR) today announced that a significant Complete Solaria private equity debt holder, Carlyle, has agreed to release the Company from its debt obligations in return for a third-party cash payment. T.J. Rodgers, Complete Solaria's Chief Executive Officer said, "The Carlyle debt, which has prevented the Company from raising money in the market, will be replaced with $10 million in debt from a ...

Complete Solaria, Inc. (NASDAQ:CSLR) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Brian Wuebbels - Chief Operating Officer T.J. Rodgers - Chief Executive Officer Siddarth Madhav - President & Chief Strategy Officer, Ayna.AI Mike Bego - President, Kline Hill Will Anderson - Founder Conference Call Participants Brian Wuebbels Good afternoon and welcome to the Complete Solaria's Earnings Call. My name is Brian Wuebbels, and I am the Chief Operating Officer for Complete Solaria. ...

FREMONT, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. ("Complete Solaria" or the "Company") (NASDAQ:CSLR) today announced that Kline Hill Partners (KHP), a Complete Solaria debt holder, has agreed to a debt-for-equity swap, and an additional cash investment. Complete Solaria will issue 9.8 million shares (19.9%) of outstanding stock to KHP in return for cancelling its debt. Mike Bego, KHP CEO, said, "We have re-invested the principal and interest on our loan back into Complete Solaria's s ...

FREMONT, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. ("Complete Solaria" or the "Company") (NASDAQ:CSLR) today published its Q1'24 results, to be presented via webcast today, May 2, 2024 at 5:00 p.m. EDT. Interested parties may access the webcast by registering here, or by visiting: https://investors.completesolaria.com/news-events/events. Q1'24 and Q2'24 forecast summary (based on non-GAAP results unless noted): Q1'24 revenue was $10.0 million, half of Q4'23, despite our $17.8 million b ...

FREMONT, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. ("Complete Solaria" or the "Company") (NASDAQ:CSLR), a leading solar technology, services, and installation company, today announced the Company will release its financial and operational results, for the fourth quarter of 2023 and first quarter of 2024, after market close on Thursday, May 2. Issuance of the earnings press release will be followed by a webcast conference call at 5:00 PM ET, hosted by T.J. Rodgers and the Complete Sol ...

FREMONT, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. ("Complete Solaria" or the "Company") (NASDAQ:CSLR) today announced that T.J. Rodgers will become the company's Chief Executive Officer (CEO). Rodgers said, "First, I would like to thank Chris Lundell, our current CEO, who came in at the board's request to stabilize the company during a stressful period of rapid headcount reduction. Chris will remain on the Company's board. Moving forward, I believe in the Company's mission and I wil ...