Maxeon Solar shares surge 32.07% intraday after clearing debt covenants to sell Malaysia subsidiary.

Maxeon Solar Technologies surged 32.07% intraday after announcing the sale of its Malaysian manufacturing subsidiary and amending debt covenants to facilitate the transaction. The company's Cayman Islands subsidiary entered a share sale agreement, with the debt covenant changes enabling automatic lien releases on Malaysia assets. These developments, which streamline the sale process and improve liquidity, likely drove the sharp intraday rally despite broader challenges such as patent rulings and financial struggles mentioned in separate reports.