LOS ANGELES, May 4 (Reuters) - SunPower Corp (SPWRA.O: Quote, Profile, Research) on Monday said an offering of common stock and sale of convertible debentures will reduce the company's 2009 earnings per share by about 10 percent from its most recent forecast.

In a statement, SunPower said it received proceeds of $417.6 million from the offerings of 10.35 million shares of class A common stock and $230 million of 4.75 percent senior convertible debentures due 2014.

On April 23, SunPower slashed its 2009 earnings forecast because the global credit crisis has choked demand for solar panels.

At the time, the company said it expected to earn between $1.25 per share and $1.75 per share, excluding one-time items, for the full year. Including items, the company forecast earnings of 25 cents to 50 cents a share.

SunPower said it plans to use proceeds from the share and convertible offerings for general corporate purposes, including capital spending and working capital, and for debt repayment. (Reporting by Nichola Groom; Editing by Steve Orlofsky)