SolarEdge Technologies, Inc. Announces Closing of Common Stock Offering
March 22 2022 - 4:10PM
Business Wire
SolarEdge Technologies, Inc. (Nasdaq: SEDG) (“SolarEdge”) today
announced the closing of its previously-announced underwritten
public offering of 2,300,000 shares of its common stock at $295.00
per share (the “Common Stock”), for total gross proceeds of $678.5
million (before deduction for the underwriters’ discount and other
offering expenses). This number includes 300,000 shares sold to the
underwriters upon exercise of their option to purchase additional
shares.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and
Morgan Stanley & Co. LLC acted as joint book-running managers
for the Common Stock offering.
SolarEdge intends to use the net proceeds from the offering for
general corporate purposes, which may include acquisitions.
However, SolarEdge does not have agreements or commitments for any
acquisitions at this time.
The offering was made pursuant to an effective shelf
registration statement that had been filed with the Securities and
Exchange Commission (the “SEC”). A copy of a final prospectus
supplement with respect to the offering of the Common Stock and the
accompanying prospectus have been filed with the SEC and are
available on the SEC’s website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus related to the offering of Common Stock may also be
obtained from Goldman Sachs & Co. LLC, 200 West Street, New
York, New York 10282, Telephone: (866) 471-2526, Attention:
Registration Department; J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, Attention: Prospectus Department, 1155 Long
Island Avenue, Edgewood, NY 11717, or via telephone:
1-866-803-9204; or Morgan Stanley & Co. LLC, 180 Varick Street,
2nd Floor, New York, NY 10014, Attention: Prospectus Department
.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any offer or
sale of, the Common Stock in any state or jurisdiction in which the
offer, solicitation, or sale would be unlawful.
Forward-Looking
Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified as such because
the statements include information, among other things, concerning:
the use of proceeds from the Offering, our possible or assumed
future results of operations; future demands for solar energy
solutions; business strategies; technology developments; financing
and investment plans; dividend policy; competitive position;
industry and regulatory environment; general economic conditions;
potential growth opportunities; and the effects of competition.
These forward-looking statements are often characterized by the use
of words such as “may,” “believe,” “expect,” “anticipate,” “plan,”
“project,” “will,” “projections,” “estimate,” or other words of
similar import. Similarly, statements that describe future
financial performance or plans or strategies are forward-looking
statements.
Forward-looking statements are only predictions based on
SolarEdge’s current expectations and projections about future
events. These forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause SolarEdge’s
actual results, levels of activity, performance or achievements to
be materially different from those expressed or implied by the
forward-looking statements. Given these factors, you should not
place undue reliance on these forward-looking statements. These
factors include, but are not limited to, the matters discussed in
the section entitled “Risk Factors” of SolarEdge’s Annual Report on
Form 10-K for the year ended December 31, 2021, filed on February
22, 2022, Current Reports on Form 8-K and other reports filed with
the SEC. All forward-looking statements included in this release
are given only as at the date hereof and SolarEdge assumes no
obligation, and disclaims any duty, to update the forward-looking
statements in this release.
You should not rely upon forward-looking statements as
predictions of future events. The events and circumstances
reflected in the forward-looking statements may not be achieved or
occur. SolarEdge cannot guarantee future results, levels of
activity, performance or achievements. SolarEdge is under no duty
to update any of these forward-looking statements after the date of
this release or to conform these statements to actual results or
revised expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20220322005879/en/
Investor Contacts SolarEdge Technologies, Inc. Ronen Faier,
Chief Financial Officer +1 510-498-3263 investors@solaredge.com or
Sapphire Investor Relations, LLC Erica Mannion or Michael Funari +1
617-542-6180 investors@solaredge.com
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