Complete Solaria Update: Operational Progress & PE Debt

April 11, 2024

https://www.globenewswire.com/news-release/2024/04/11/2861475/0/en/Complete-Solaria-Update-Operational-Progress-PE-Debt.html

FREMONT, Calif., April 11, 2024 (GLOBE NEWSWIRE) — Complete Solaria, Inc. (“Complete Solaria” or the “Company”) (Nasdaq:CSLR) today reported on its current financial status, which includes progress on its cash burn rate, and the status of its debt with private equity firms Kline-Hill Partners and Carlyle, which together hold about $70 million in debt owed on about $35 million of principal, split roughly equally between the two (see our 10K for exact numbers). First, we report on our progress in turning Complete Solaria (CSLR) around financially, starting with our dramatic headcount reduction from 428 to 109 (-74.5%) in seven rounds of layoffs.

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