GLOME Holdings, Inc. (TSE Growth: 8938) has resolved to subscribe to a third-party allotment of new shares from SunPower Inc., the NASDAQ-listed US residential solar installer, agreeing to pay $3,499,999.83 (¥545mn at ¥156 to the dollar) for 13,774,104 shares. Once the allotment closes, expected by September 14, 2026 local time, GLOME will hold a 4.41% stake, funded entirely from its own cash.
SunPower's own numbers explain the risk GLOME is taking on. Its consolidated net assets have been negative for three straight fiscal years, and the company was balance-sheet insolvent, with liabilities exceeding assets, at the end of December 2025.
| Fiscal year | Consolidated net assets | Revenue | Net income (parent) |
|---|---|---|---|
| 2023 | -¥11.98bn | ¥13.67bn | -¥42.05bn |
| 2024 | -¥15.22bn | ¥16.96bn | -¥8.81bn |
| 2025 | -¥14.06bn | ¥46.80bn | -¥7.08bn |
GLOME says the purchase price equals 7.5% of its own consolidated total assets for the fiscal year ended March 2026, enough on its own to trigger disclosure under the exchange's materiality rules. The company frames the deal as a route to SunPower's North American sales and installation network through its new subsidiary, GLOME Energy, as it tries to enter the energy business.
GLOME is explicit about what it is buying into. Because SunPower's liabilities exceed its assets, the filing warns that an impairment loss on the newly acquired shares may be necessary, with the amount and timing of any writedown to be disclosed once determined. The effect on GLOME's own results for the fiscal year ending March 2027 remains under review. SunPower's wider $26.2mn allotment round is anchored by Foris Ventures, the family office of Kleiner Perkins chairman John Doerr.