Enphase
Energy, Inc. (NASDAQ:ENPH), announced the commencement of an
underwritten public offering of common stock by selling stockholders,
including entities affiliated with Bay Partners, KPCB Holdings, Madrone
Partners, RockPort Capital Partners and Third Point LLC. The selling
stockholders will receive all the proceeds from the sale of shares in
the offering. Enphase Energy will not receive any proceeds from the sale
of common stock by the selling stockholders.
Needham & Company, LLC is acting as sole book-running manager for the
offering. Northland Securities, Inc. is acting as a co-manager.
The offering is expected to price before market open on Thursday, August
14, 2014.
The shares described above are being offered pursuant to a registration
statement previously filed with and subsequently declared effective by
the Securities and Exchange Commission (“SEC”). A preliminary prospectus
supplement and accompanying prospectus relating to the offering will be
filed with the SEC and will be available on the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such state or jurisdiction. Copies of the preliminary prospectus
supplement and accompanying prospectus relating to the offering may be
obtained from Needham & Company, LLC, 445 Park Avenue, New York, NY
10022, (800) 903-3268 or by email to prospectus@needhamco.com.
About Enphase Energy, Inc.
Enphase Energy delivers microinverter technology for the solar industry
that increases energy production, simplifies design and installation,
improves system uptime and reliability, reduces fire safety risk and
provides a platform for intelligent energy management. Its
semiconductor-based microinverter system converts energy at the
individual solar module level and brings a systems-based, high
technology approach to solar energy generation.
Cautionary Information Regarding Forward Looking Statements
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995
regarding the proposed public offering. These forward-looking statements
are subject to risks and uncertainties that may cause actual results to
differ materially, including without limitation, risks and uncertainties
related to market conditions and satisfaction of customary closing
conditions related to the public offering. Enphase Energy does not
assume any obligation to update any forward-looking statements.
Copyright Business Wire 2014