(Source: Business Wire)
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(R) Programmable System-on-Chip(TM), USB controllers, general-purpose programmable clocks and memories. Cypress also offers wired and wireless connectivity solutions ranging from its WirelessUSB(TM) radio system-on-chip, to West Bridge(TM) and EZ-USB(R) 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. Visit Cypress online at www.cypress.com.
