#Japan #Tokyo #Energy Partnership #SunPower Inc. #Gloam Holdings

Gloam Holdings Partners with SunPower for North American Energy Expansion

On September 7, 2026, Gloam Holdings, Inc., listed on NASDAQ under the ticker code 8938, revealed its decision to invest in SunPower Inc. This strategic capital infusion involves acquiring new shares through a third-party allotment, totaling approximately $3.5 million (or 545 million yen). The deal will see Gloam acquire 13,774,104 shares, representing a 4.41% stake in SunPower.

This announcement was made public via TDnet and highlights the company's ambition to establish a strong foothold in energy-related sectors within North America. The primary objective of this investment is to enhance Gloam's connection to North American energy initiatives and thereby drive collaboration with industry leaders like SunPower.

Understanding SunPower’s Landscape

SunPower is a frontrunner in the U.S. residential solar market, renowned for its expansive sales network and exceptional installation capabilities. Furthermore, through strategic mergers and acquisitions, SunPower has enriched its operational workforce significantly. Gloam Holdings has identified SunPower as a key partner for future collaborations, hoping to harness potential synergies that could result from this relationship.

The endeavor by SunPower to raise $26.2 million through this capital increase primarily targets investors located on Sand Hill Road, a region infamously known as the “Wall Street of Silicon Valley.” Among these investors, prominent venture capital figure John Doerr's family office, Foris Ventures, is serving as an anchor investor.

Details of the Transaction

• - Total Investment Amount: $3,499,999.83 (545 million yen)
• - Total Shares Acquired: 13,774,104 shares
• - Post-Investment Stake: 4.41%
• - Acquisition Method: Subscription to newly issued shares through third-party allotment
• - Expected Completion: By September 14, 2026 (local time)
• - Funding Source: Self-financed

Note: The yen conversion is based on an exchange rate of 1 USD = 156.0 JPY, rounding down amounts below one million yen.

Overview of SunPower Inc.

• - Company Name: SunPower Inc.
• - Location: 1403 N Research Way, Orem, UT 84097
• - Business Focus: Providing installation services for residential solar power systems in North America
• - Established: February 2010
• - Stock Market Listing: NASDAQ

It is crucial to note that there are no existing capital, personnel, or transaction relationships between Gloam Holdings and SunPower that warrant disclosure. Likewise, SunPower does not qualify as a related party of Gloam Holdings.

Considerations Regarding Financial Health

Although this investment strategy holds significant potential, it is crucial to highlight SunPower’s recent financial performance, particularly its negative consolidated net assets over the last three fiscal periods. As of December 2025, SunPower is projected to face excess liabilities, further complicating the deal's outlook with net assets striking -$90.144 million.

Given this financial backdrop, Gloam Holdings has prudently chosen to proceed with the investment after evaluating SunPower’s established operational base in North America and the prospective value from future synergies with its own group. Notably, the acquisition amount represents 7.5% of Gloam's total consolidated assets for the fiscal period ending March 2026, ensuring it does not meet the thresholds for minor disclosure. Additionally, the investment may entail a decline in value due to SunPower's current excess liabilities.

Project Timeline

• - Board Resolution: August 25, 2026
• - Signing of Subscription Agreement: September 4, 2026 (local time)
• - Payment Deadline for Allotment: September 4, 2026 (local time)
• - Issuance of Shares: By September 14, 2026 (local time)

Looking Ahead

As the implications of this transaction unfold, Gloam is actively evaluating how this investment will impact their consolidated performance for the fiscal year ending March 2027. Should there be any developments regarding the necessity for valuation reductions or related financial disclosures, Gloam Holdings pledges to share updates promptly.

About Gloam Holdings Inc.

• - Company Name: Gloam Holdings, Inc.
• - Ticker Code: 8938 (Tokyo Stock Exchange Growth Market)
• - Headquarters: Minato-ku, Tokyo
• - Representative: CEO Masazumi Sugawara
• - Business Focus: Medical-related services, real estate
• - Corporate Website: Gloam Holdings

For inquiries, please reach out to the planning department of Gloam Holdings. All information presented is accurate as of the announcement date. Responses to inquiries regarding individual stock prices or investment decisions will not be provided.