By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – Enphase Energy, Inc. said it priced a $15.6 million public offering of stock.
The company will sell 13 million common shares at $1.20 per share. The per-share price is a 2.56% premium to the Sept. 22 closing share price of $1.17.
There is also a 30-day greenshoe for up to 1.95 million shares.
Oppenheimer & Co. Inc. is the underwriter.
Proceeds will be used for general corporate purposes, including working capital.
Based in Petaluma, Calif., Enphase delivers microinverter technology for the solar industry that increases energy production, simplifies design and installation, improves system uptime and reliability, reduces fire safety risk and provides a platform for intelligent energy management.
| Issuer: | Enphase Energy, Inc.
|
| Issue: | Common shares
|
| Amount: | $15.6 million
|
| Shares: | 13 million
|
| Greenshoe: | 1.95 million shares
|
| Price: | $1.20
|
| Underwriter: | Oppenheimer & Co. Inc.
|
| Pricing date: | Sept. 23
|
| Stock symbol: | Nasdaq: ENPH
|
| Stock price: | $1.17 at close Sept. 22
|
| Market capitalization: | $65.35 million
|
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