SunEdison Announces $403 Million in Private Placements for TerraForm Global
MARYLAND HEIGHTS, Mo., June 16, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the world's largest renewable energy development company, today announced that it completed a $335 million private placement of membership interests in TerraForm Global, LLC., an indirect subsidiary of SunEdison formed to own and operate contracted clean power generation assets in emerging markets. Additionally, TerraForm Global, Inc., an indirect subsidiary of SunEdison, entered into a stock purchase agreement for the sale of $67.5 million of its Class A common stock in a private placement, conditioned upon the closing of its initial public offering. The private placements were entered into with institutional investors, including Baron Funds, Capricorn Investment Group, GE, Glenview Capital Management, Kingdon Capital Management and Zimmer Partners. These investments are in addition to the $175 million of private placements announced on May 7.
The membership interests and Class A common stock have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, 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
This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as "expect," "estimate," "anticipate," "forecast," "intend," "project," "target," "plan," "believe" and similar terms and expressions. Forward-looking statements are based on current expectations and assumptions. Although SunEdison believes that their expectations and assumptions are reasonable, they can give no assurance that these expectations and assumptions will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, among others: the failure of counterparties to fulfill their obligations under offtake agreements; price fluctuations, termination provisions and buyout provisions in offtake agreements; and the other risks and uncertainties included in SunEdison's filings with the Securities and Exchange Commission at www.sec.gov. SunEdison undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE SunEdison, Inc.
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