Cypress Semiconductor Corporation (NSYE:CY) and SunPower Corporation
(NASDAQ:SPWR) announced that on September 10, 2008, SunPower filed a
registration statement with the Securities and Exchange Commission (the “SEC”)
registering the outstanding shares of Class B common stock held by
Cypress. The registration statement became effective on filing with the
SEC. The registration statement contains important information about the
proposed distribution of the Class B shares to Cypress’s
stockholders (the “spin-off”),
including information about the federal income tax consequences of the
spin-off to U.S. holders. The registration statement is available on
SunPower’s website at http://investors.sunpowercorp.com/secfiling.cfm?filingID=
950134-08-16424 and on the SEC’s website
at http://www.sec.gov/Archives/edgar/data/867773/000095013408016424/
f43515orsv3asr.htm. (Due to their lengths, the preceding URLs may
need to be copied/pasted into your Internet browser's address field.
Remove any extra space if one exists.) Investors are urged to read the
prospectus contained in the registration statement in its entirety.
SunPower has applied to list the Class B common stock on the NASDAQ
Global Select Market after the spin-off. SunPower expects that trading
in shares of Class B common stock will begin on a “when-issued”
basis as soon as such shares are approved for listing on the NASDAQ
Global Select Market. When, and if, such shares become eligible for “when-issued”
trading, they will trade under the symbol “SPWRV”
until such time as any “when-issued”
trades are settled, at which time “regular way”
trading in Class B common stock is expected to continue on the NASDAQ
Global Select Market under the symbol “SPWRB.”
In addition, SunPower expects to change the trading symbol of its Class
A common stock from “SPWR”
to “SPWRA” upon
completion of the spin-off.
About Cypress
Cypress delivers high-performance, mixed-signal, programmable solutions
that provide customers with rapid time-to-market and exceptional system
value. Cypress offerings include the PSoC®
Programmable System-on-Chip™, USB
controllers, general-purpose programmable clocks and memories. Cypress
also offers wired and wireless connectivity solutions ranging from its
WirelessUSB™ radio system-on-chip, to West
Bridge™ and EZ-USB®
FX2LP controllers that enhance connectivity and performance in
multimedia handsets. Cypress serves numerous markets including consumer,
computation, data communications, automotive, industrial, and solar
power. Cypress trades on the NYSE under the ticker symbol CY.
