SolarEdge Technologies, Inc. Announces Pricing of Private Offering of $550 Million of 0.00% Convertible Senior Notes due 2025
The Notes will not bear regular interest. The Notes will mature on
Holders of the Notes will have the right to require
The Notes will be convertible based on an initial conversion rate of 3.5997 shares of SolarEdge’s common stock per
When issued, the Notes will be SolarEdge’s senior unsecured obligations and will rank senior in right of payment to any of SolarEdge’s unsecured indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment to any of SolarEdge’s unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of SolarEdge’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of SolarEdge’s subsidiaries.
The Notes were offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the Notes and any shares of common stock of
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 Notes (or any shares of common stock of
Forward-Looking Statements
This press release contains forward-looking statements, including, among other things, about whether
The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially, including (i) changes as a result of market conditions or for other reasons, (ii) the risk that the Offering will not be consummated, and (iii) the impact of general economic, industry or political conditions in
The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in SolarEdge’s filings with the
Source:
View source version on businesswire.com: https://www.businesswire.com/news/home/20200923005286/en/
Investor Contacts
+1 510-498-3263
investors@solaredge.com
or
Sapphire Investor Relations, LLC
+1 617-542-6180
investors@solaredge.com
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