SolarEdge Says PM&M Electric, A Customer That Owes Company Approximately $11.4M Under Secured Promissory Note, Recently Filed For Chapter 7 Bankruptcy - Filing
Portfolio Pulse from Benzinga Newsdesk
SolarEdge Technologies (SEDG) announced that PM&M Electric, a customer owing the company approximately $11.4 million under a secured promissory note, has filed for Chapter 7 bankruptcy. SolarEdge is monitoring the proceedings but cannot guarantee the outcome or timely collection of the owed amount.
June 24, 2024 | 9:37 pm
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SolarEdge Technologies (SEDG) faces potential financial impact due to PM&M Electric's Chapter 7 bankruptcy, which may delay or prevent the collection of $11.4 million owed to the company.
The bankruptcy filing by PM&M Electric poses a risk to SolarEdge's financials as it may not be able to collect the $11.4 million owed or may face significant delays in collection. This uncertainty is likely to negatively impact investor sentiment in the short term.
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