SunEdison Announces Proposed Offering Of $500 Million Of Perpetual Convertible Preferred Stock
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Needham & Company Raises Price Target on SunEdison (SUNE) Following Recent Financing
August 19, 2015 6:43 AM EDTNeedham & Company reiterated a Buy rating on SunEdison (NYSE: SUNE), and raised the price target to $31.00 (from $30.00), following recent rounds of financing. Analyst Edwin Mok believes that the recently completed 2 rounds of financing is needed to fund the 2016 growth target, as well as to shore up the company's balance sheet. The recent decline... More
SunEdison's (SUNE) Cost of Capital on Preferred Offering Could be High Given Conversion Price - RBC
August 18, 2015 11:01 AM EDTRBC Capital affirms SunEdison (NYSE: SUNE) at Outperform with a price target of $24 (recently lowered from a prior target of $36) following pricing of the company's 650,000 6.75% Series A Perpetual Convertible Preferred Stock, which was $1,000 per share.
Analyst Mahesh Sanganeria commented, We think the... More
SunEdison (SUNE) Prices 650k Series A Perpertual Conv. Preferred Stock Offering
August 18, 2015 9:11 AM EDTSunEdison (NYSE: SUNE) announced the pricing of its public offering of 650,000 shares of 6.75% Series A Perpetual Convertible Preferred Stock, par value $0.01 per share (the "Perpetual Convertible Preferred Stock"), at a price of $1,000 per share. The offering is expected to close on August 21, 2015, subject to customary closing conditions.
Dividends on the shares of the Perpetual Convertible Preferred Stock will be payable on a cumulative basis when, as and if declared by the Company's board of directors, or an authorized committee thereof, at the rate per annum of 6.75%... More
SunEdison (SUNE) Warehouse Facility Addresses Liquidity Concerns, Baird Says
August 18, 2015 6:29 AM EDTBaird analyst Ben Kallo reiterating a Neutral rating and $35 price target on SunEdison (NYSE: SUNE) after the company announced a construction warehouse facility providing $1B of liquidity, which will help SUNE complete projects in 2016. The facility will address liquidity concerns.
Kallo... More
New Warehouse Facility for SunEdison (SUNE) Should Address Liquidity Concerns - Cowen
August 17, 2015 5:56 PM EDTCowen analyst Jeffrey Osborne reiterated his Outperform rating and $35 price target on SunEdison (NYSE: SUNE), saying the new $1 billion warehouse facility should alleviate liquidity concerns.
Osborne commented, "unEdison bolstered the breadth and depth of its financing options with the announcement of a... More
SunEdison (SUNE) to File to Offer $500M of Perpetual Convertible Preferred Stock
August 17, 2015 5:35 PM EDTSunEdison (NYSE: SUNE) announced today that it intends to file a prospectus supplement to a registration statement filed on Form S-3 with the U.S. Securities and Exchange Commission ("SEC"), relating to a proposed underwritten public offering of shares of perpetual convertible preferred stock,... More
