SolarEdge Technologies, Inc. (Nasdaq: SEDG) (“SolarEdge”) today announced the closing of its previously-announced underwritten public offering of 2,300,000 shares of its common stock at $295.00 per share (the “Common Stock”), for total gross proceeds of $678.5 million (before deduction for the underwriters’ discount and other offering expenses). This number includes 300,000 shares sold to the underwriters upon exercise of their option to purchase additional shares.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the Common Stock offering.
SolarEdge intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions. However, SolarEdge does not have agreements or commitments for any acquisitions at this time.
The offering was made pursuant to an effective shelf registration statement that had been filed with the Securities and Exchange Commission (the “SEC”). A copy of a final prospectus supplement with respect to the offering of the Common Stock and the accompanying prospectus have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to the offering of Common Stock may also be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Telephone: (866) 471-2526, Attention: Registration Department; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or via telephone: 1-866-803-9204; or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department .
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 Common Stock in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful.