Enphase Energy (ENPH) Announces Offering of Common Stock
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Enphase Energy (ENPH) Prices 13M Stock Offering at $1.20/Share
September 23, 2016 9:16 AM EDTEnphase Energy Inc. (Nasdaq: ENPH), announced the pricing of the previously announced underwritten public offering of 13,000,000 shares of its common stock, offered at a price to the public of $1.20 per share. Certain directors, officers, and employees of Enphase are expected to purchase approximately $1.2 million of common stock in this... More
Needham & Company Remains Sidelined on Enphase Energy (ENPH)
September 23, 2016 7:28 AM EDTNeedham & Company reiterated a Hold rating on Enphase Energy (NASDAQ: ENPH) following the company's announced new restructuring initiatives, preliminary 4Q16 guidance, and launched secondary equity offering. ENPH expects to record $3MM of restructuring charges in 3Q16 and the program will complete in 4Q16. For 4Q16, the company guided... More
Roth Trims PT on Enphase Energy (ENPH) to $1.50 Amid Restructuring, Equity Offering
September 23, 2016 7:23 AM EDTRoth Capital cut its price target on Neutral-rated Enphase Energy (NASDAQ: ENPH) from $1.80 down to $1.50 after the company announced restructuring plans and an equity raise on Thursday night.
Analyst Philip Shen commented today: Shares fell sharply during after-hours trading. While... More
Enphase Energy (ENPH) Updates on Restructuring, Cost Savings Efforts; Guides Q3, Q4
September 22, 2016 4:03 PM EDTEnphase Energy, Inc. (NASDAQ: ENPH) announced restructuring and cost savings initiatives that are expected to result in approximately $20 million of annualized operating expense savings.
Enphase is reducing approximately 11 percent of its global workforce and eliminating certain non-core projects. The Company expects to incur aggregate restructuring charges in the third quarter of 2016 of approximately $3.0 million, including approximately $1.7 million in cash-based severance and related benefits, and approximately $1.3 million in non-cash expense for asset impairments and write-offs related to property and equipment. The restructuring actions are expected to be completed in the fourth quarter... More
