Form 8-K - Current report
21 Juni 2024 - 10:01PM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 17, 2024
Complete Solaria, Inc.
(Exact name of registrant as specified in its
charter)
Delaware |
|
001-40117 |
|
93-2279786 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
45700 Northport Loop East, Fremont, CA |
|
94538 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (510) 270-2507
Not Applicable
(Former Name or Former Address, if Changed Since
Last Report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, par value $0.0001 per share |
|
CSLR |
|
The Nasdaq Global Market |
|
|
|
|
|
Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
CSLRW |
|
The Nasdaq Capital Market |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01. Other Events
As previously reported, in July 2021, Siemens
Government Technologies, Inc. and Siemens Industry, Inc. (collectively, “Siemens”) filed a lawsuit against Solaria Corporation
and SolarCA, LLC, which are wholly-owned subsidiaries of Complete Solaria, Inc. (collectively, the “Subsidiaries”), in Fairfax
Circuit Court (the “Court”) in Fairfax, Virginia in the case captioned Siemens Government Technologies, Inc. and Siemens
Industry Inc. v. Solaria Corporation and SOLARCA, LLC (Case No. CL-2021-10556). In such lawsuit, Siemens alleged that the Subsidiaries
breached express and implied warranties under a purchase order that Siemens placed with the Subsidiaries for a solar module system. Siemens
claimed damages of approximately $6.9 million, inclusive of amounts of the Subsidiaries’ indemnity obligations to Siemens, plus
attorneys’ fees.
As previously reported, in February 2024, the
Court issued an order against the Subsidiaries which awards Siemens approximately $6.9 million, inclusive of amounts of the Subsidiaries’
indemnity obligations to Siemens, plus attorney’s fees, the amount of which would be determined at a later hearing. The Subsidiaries
intend to appeal such judgment.
On June 17, 2024, the Court entered a final order
(“Siemens v. Solaria Final Order”) which awards Siemens a total of $2,007,024.63 in attorneys’ fees and costs. The Subsidiaries
intend to appeal such judgment.
The foregoing
description of the Siemens v. Solaria Final Order does not purport to be complete and is qualified in its entirety by the terms and conditions
of the Siemens v. Solaria Final Order, the form of which is filed as Exhibit 10.1 (Siemens v. Solaria Final Order) and incorporated herein
by reference.
Forward-Looking Statements
This Current Report on Form 8-K contains certain
forward-looking statements, including statements relating to post-trial remedies, including an intention to appeal the judgement. When
used herein, the words “potential,” “believe,” “expect,” “expects,” “expected,”
“anticipate,” “may,” “will,” “enable,” “should,” “seek,” “approximately,”
“intends,” “intended,” “plans,” “planned,” “planning,” “estimates,”
“benefits,” or the negative of these words or other comparable terminology and similar expressions as they relate to Complete
Solaria, Inc. (“Complete Solaria”) and are intended to identify such forward-looking statements. These statements are based
on the current views and assumptions of Complete Solaria and involve risks and uncertainties that could cause actual results to differ
materially from those projected in the forward-looking statements, relating to, among other things, the ability to successfully prevail
on post-trial motions or appeal, the impact of any final judgment on Complete Solaria’s consolidated financial results, and other
risks and uncertainties disclosed from time to time in Complete Solaria’s filings with the U.S. Securities and Exchange Commission
or otherwise. These forward-looking statements are based on information currently available to Complete Solaria and it assumes no obligation
to update any forward-looking statements except as required by applicable law.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Complete Solaria, Inc. |
|
|
|
Dated: June 21, 2024 |
By: |
/s/ Thurman J. Rodgers |
|
|
Thurman J. Rodgers |
|
|
Chief Executive Officer |
2
Exhibit 10.1
v3.24.1.1.u2
Cover
|
Jun. 17, 2024 |
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Jun. 17, 2024
|
Entity File Number |
001-40117
|
Entity Registrant Name |
Complete Solaria, Inc.
|
Entity Central Index Key |
0001838987
|
Entity Tax Identification Number |
93-2279786
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
45700 Northport Loop East
|
Entity Address, City or Town |
Fremont
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
94538
|
City Area Code |
510
|
Local Phone Number |
270-2507
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
Common Stock, par value $0.0001 per share |
|
Title of 12(b) Security |
Common Stock, par value $0.0001 per share
|
Trading Symbol |
CSLR
|
Security Exchange Name |
NASDAQ
|
Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
Title of 12(b) Security |
Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
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Trading Symbol |
CSLRW
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Security Exchange Name |
NASDAQ
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