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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___________)*
SUNPOWER CORPORATION
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(Name of Issuer)
Class A Common Stock
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(Title of Class of Securities)
867652109
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(CUSIP Number)
November 23, 2005
* On December 2, 2005 a Schedule 13G with respect to the Class A Common Stock
of Sunpower Corporation was sent (by DHL Federal Express) to the Securities and
Exchange Commission (the "SEC") by the reporting persons listed on this Schedule
13G. The Schedule 13G was sent to the attention of the Division of Corporate
Finance at 100 F. Street North East, Room 3628, Washington, D.C. 20549. In a
letter dated January 10, 2006, the SEC informed Level Global Investors, L.P.
that the Schedule 13G must be submitted electronically through EDGAR. As of the
date of this electronic filing, Level Global Investors, L.P., along with the
other reporting persons listed on this Schedule 13G, own less than 5% of the
Class A Common Stock of Sunpower Corporation. An amendment to this Schedule 13G
will be timely filed after this Schedule 13G is filed in order to formerly
notify the SEC that the reporting persons currently hold less than 5% of the
Class A Common Stock of Sunpower Corporation.
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
Page 1 of 10
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Persons who respond to the collection of information contained in this form are
not required to respond unless the form displays a currently valid OMB control
number.
SEC 1745 (12-02)
Page 2 of 10
CUSIP No. 867652109 13G
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Level Global Overseas Master Fund, Ltd.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 400,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
400,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.1%
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12. TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 10
CUSIP No. 867652109 13G
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Level Global Investors, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 400,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.1%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 10
CUSIP No. 867652109 13G
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Level Global, L.L.C.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 400,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.1%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 10
CUSIP No. 867652109 13G
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David Ganek
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 400,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
400,000
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.1%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 10
Item 1 (a) Name of Issuer: Sunpower Corporation
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Item 1 (b) Address of Issuer's Principal Executive Offices:
430 Indio Way, Sunnyvale, California 94085
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Item 2 (a) Name of Person Filing:
(i) Level Global Overseas Master Fund, Ltd. with respect to
shares of Class A Common Stock beneficially owned by it.
(ii) Level Global Investors, L.P. with respect to shares of
Class A Common Stock beneficially owned by Level Global Overseas
Master Fund, Ltd.
(iii) Level Global, L.L.C. with respect to shares of Class A
Common Stock beneficially owned by Level Global Investors, L.P. and
Level Global Overseas Master Fund, Ltd.
(iv) David Ganek with respect to shares of Class A Common
Stock beneficially owned by Level Global, L.L.C, Level Global
Investors, L.P. and Level Global Overseas Master Fund, Ltd.
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Item 2 (b) Address of Principal Business Office or, if none, Residence:
The address of the principal business office of Level Global
Investors, L.P., Level Global, L.L.C. and David Ganek is 537
Steamboat Road, Suite 400, Greenwich, Connecticut 06830. The address
of the principal business office of Level Global Overseas Master
Fund, Ltd. is c/o Citco Fund Services (Bermuda) Limited, Washington
Mall West, 2nd Floor, 7 Reid Street, Hamilton HM11, Bermuda.
---------------------------------------------------------------------
Item 2 (c) Citizenship:
Level Global Investors, L.P. is a Delaware limited partnership.
Level Global, L.L.C. is a Delaware limited liability company. Level
Global Overseas Master Fund, Ltd. is an exempted company
incorporated under the laws of the Cayman Islands. David Ganek is a
United States citizen.
---------------------------------------------------------------------
Item 2 (d) Title of Class of Securities:
Class A Common Stock, par value $0.001 per share
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Page 7 of 10
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Item 2 (e) CUSIP Number: 867652109
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Item 3 Not Applicable
Item 4 Ownership.
(i) Level Global Overseas Master Fund, Ltd. has shared voting
and dispositive powers with respect to 400,000 shares of Class A
Common Stock constituting approximately 5.1% of such class of
securities. Level Global Overseas Master Fund, Ltd. does not have
sole voting or dispositive powers with respect to such shares of
Common Stock.
(ii) Level Global Investors, L.P. has shared voting and
dispositive powers with respect to 400,000 shares of Class A Common
Stock constituting approximately 5.1% of such class of securities.
Level Global Investors, L.P. does not have sole voting or dispositive
powers with respect to such shares of Common Stock.
(iii) Level Global, L.L.C. has shared voting and dispositive
powers with respect to 400,000 shares of Class A Common Stock
constituting approximately 5.1% of such class of securities. Level
Global, L.L.C. does not have sole voting or dispositive powers with
respect to such shares of Common Stock.
(iv) David Ganek has shared voting and dispositive powers with
respect to 400,000 shares of Class A Common Stock constituting
approximately 5.1% of such class of securities. David Ganek does not
have sole voting or dispositive powers with respect to such shares of
Common Stock.
Level Global Investors, L.P., Level Global, L.L.C. and David Ganek do
not directly own shares of Class A Common Stock. Pursuant to an
investment management agreement, Level Global Investors, L.P. shares
all voting and investment powers with respect to the securities held
by Level Global Overseas Master Fund, Ltd. Level Global, L.L.C. acts
as the general partner of Level Global Investors, L.P. David Ganek
controls Level Global Investors, L.P. and Level Global, L.L.C.
Item 5 Ownership of Five Percent or Less of a Class
Not applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person
Not applicable
Item 7 Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company or Control
Person
Not applicable
Page 8 of 10
Item 8 Identification and Classification of Members of the Group
Not applicable
Item 9 Notice of Dissolution of Group
Not applicable
Page 9 of 10
Item 10 Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in
any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 9, 2006 Level Global Overseas Master Fund, Ltd.
By: Level Global Investors, L.P., as
investment manager to Level Global
Overseas Master Fund, Ltd.
By: Level Global, L.L.C., as general
partner of Level Global Investors, L.P.
By: /s/ David Ganek
-----------------------------------
Name: David Ganek
Title: Managing Member
Level Global Investors, L.P.
By: Level Global, L.L.C., as general
partner of Level Global Investors, L.P.
By: /s/ David Ganek
-----------------------------------
Name: David Ganek
Title: Managing Member
Level Global, L.L.C.
By: /s/ David Ganek
-----------------------------------
Name: David Ganek
Title: Managing Member
David Ganek
By: /s/ David Ganek
-----------------------------------
Name: David Ganek
Title: Managing Member, Level
Global, L.L.C.
Page 10 of 10