SunEdison Announces Proposed Offering Of $500 Million Of Perpetual Convertible Preferred Stock

Aug 17, 2015, 17:33 ET from SunEdison, Inc.

MARYLAND HEIGHTS, Mo., Aug. 17, 2015 /PRNewswire/ -- SunEdison, Inc. (the "Company") (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, par value $0.01 per share (the "Perpetual Convertible Preferred Stock"). The Company will be offering 500,000 shares of its Perpetual Convertible Preferred Stock.

The Company intends to use the net proceeds from this offering for general corporate purposes, including funding working capital and growth initiatives.

The Perpetual Convertible Preferred Stock will be convertible, subject to certain conditions, into shares of common stock of the Company. The Perpetual Convertible Preferred Stock has no maturity date, unless earlier converted or purchased. The dividend amount, conversion rate, conversion price and other terms of the Perpetual Convertible Preferred Stock will be determined at the time of pricing of the offering.

Goldman, Sachs & Co., BofA Merrill Lynch, Morgan Stanley, Deutsche Bank Securities, Macquarie Capital and J.P. Morgan are acting as joint book-running managers for the offering. This offering is being made by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained, once available, by sending a request to: Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com; BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, e-mail: dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014, telephone: (866) 718-1649, e-mail: prospectus@morganstanley.com; Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, telephone: (800) 503-4611, e-mail: prospectus.cpdg@db.com; Macquarie Capital, Attn: Prospectus Department, 125 West 55th St, 22nd Floor, New York, NY, 10019, telephone: (212) 231-0440, e-mail: us.prospectus@macquarie.com; or J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.

This offering is being made pursuant to a shelf registration statement which was filed with the SEC and became effective on September 9, 2013. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, including any shares of the Perpetual Convertible Preferred Stock or any shares of the Company's common stock issuable as dividends on, or upon conversion of, the Perpetual Convertible Preferred Stock, nor shall there be any offer, solicitation or sale of any securities, including any shares of the Perpetual Convertible Preferred Stock or any shares of the Company's common stock issuable as dividends on, or upon conversion of, the Perpetual Convertible Preferred Stock in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About SunEdison

SunEdison is the world's largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." 

Forward-Looking Statements

Some of the statements in this press release are "forward-looking" and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements include statements relating to, among other things, the proposed public offering of the Perpetual Convertible Preferred Stock and the expected use of the net proceeds. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release. The forward-looking statements in this press release speak only as of the date of this press release and are subject to uncertainty and changes. Given these circumstances, you should not place undue reliance on these forward-looking statements. SunEdison expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based.

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SOURCE SunEdison, Inc.



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