SolarEdge Technologies Stock Is Tumbling Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
SolarEdge Technologies Inc (NASDAQ:SEDG) shares are trading lower after the company announced a private offering of $300 million convertible senior notes due 2029. The offering is targeted at qualified institutional buyers, with an option to purchase an additional $45 million. The proceeds will be used for capped call transactions.
June 25, 2024 | 1:22 pm
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SolarEdge Technologies shares fell 17.3% following the announcement of a $300 million convertible senior notes offering due 2029. The offering is aimed at qualified institutional buyers, with an option for an additional $45 million. Proceeds will be used for capped call transactions.
The announcement of a significant convertible senior notes offering often leads to a decline in stock price due to potential dilution and increased debt. The 17.3% drop in SEDG shares reflects investor concerns over these factors.
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