0000000000-20-001449.txt : 20200901 0000000000-20-001449.hdr.sgml : 20200901 20200214152420 ACCESSION NUMBER: 0000000000-20-001449 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20200214 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Maxeon Solar Technologies, Ltd. CENTRAL INDEX KEY: 0001796898 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 STATE OF INCORPORATION: U0 FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 8 MARINA BOULEVARD #05-02 STREET 2: MARINA BAY FINANCIAL CENTRE CITY: MARINA BAY STATE: U0 ZIP: 018981 BUSINESS PHONE: 408.457.2302 MAIL ADDRESS: STREET 1: 8 MARINA BOULEVARD #05-02 STREET 2: MARINA BAY FINANCIAL CENTRE CITY: MARINA BAY STATE: U0 ZIP: 018981 FORMER COMPANY: FORMER CONFORMED NAME: Maxeon Solar Technologies, Pte. Ltd. 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end TEXT-EXTRACT 2 filename2.txt February 14, 2020 Vichheka Heang Vice President and Corporate Controller Maxeon Solar Technologies, Pte. Ltd. 8 Marina Boulevard #05-02 Marina Bay Financial Centre 018981, Singapore Re: Maxeon Solar Technologies, Pte. Ltd. Draft Registration Statement on Form 20-F Filed December 20, 2019 CIK No. 0001796898 Dear Ms. Heang: We have reviewed your amended draft registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by providing the requested information and either submitting an amended draft registration statement or publicly filing your registration statement on EDGAR. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing the information you provide in response to these comments and your amended draft registration statement or filed registration statement, we may have additional comments. Amendment No. 1 to Registration Statement on Form 20-F Notes to Unaudited Pro Forma Combined Financial Information, page 24 1. You state in your response to prior comment 2 that the promissory note of $100.0 million represents a net parent distribution and is not intended to be reflective of fair value of the intellectual property to be transferred. Please tell us how you considered including pro forma disclosure, including pro forma per share data in the historical financial statements with appropriate footnote disclosure, to give effect to the planned net parent distribution. Refer to SAB Topic 1.B.3. Vichheka Heang Maxeon Solar Technologies, Pte. Ltd. February 14, 2020 Page 2 Reconciliation of Non-GAAP Financial Measures, page 90 2. You indicate in your response to prior comment 4 that the cost of above-market polysilicon adjustment relates to legacy long-term, fixed price supply agreements executed by SunPower to purchase polysilicon. Please tell us in more detail about these legacy long-term agreements including the material provisions such as term, cancellation provisions and if management expects to exit these contracts in the near future. In this regard, it is not clear why management believes these costs are non-recurring and should not be reflected as current period operating costs. Please explain and tell us how you considered the guidance found in Question 100.01 of the Non-GAAP Compliance and Disclosure Interpretations. Financial Statements General, page F-1 3. Please note the financial statement updating requirements per Item 8.A. of Form 20-F. You may contact Sisi Cheng at 202-551-5004 or John Cash at 202-551-3768 if you have questions regarding comments on the financial statements and related matters. Please contact Sherry Haywood at 202-551-3345 or Jay Ingram at 202-551-3397 with any other questions. FirstName LastNameVichheka Heang Sincerely, Comapany NameMaxeon Solar Technologies, Pte. Ltd. Division of Corporation Finance February 14, 2020 Page 2 Office of Manufacturing FirstName LastName