Needham & Company Remains Sidelined on Enphase Energy (ENPH)
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September 22, 2016 4:02 PM EDT
PETALUMA, CA -- (Marketwired) -- 09/22/16 -- Enphase Energy, Inc. (NASDAQ: ENPH), today announced that it intends to offer and sell shares of its common stock, subject to market and other conditions, in an underwritten public offering. Enphase also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering to cover over-allotments, if any. Enphase anticipates using the net proceeds from the proposed offering for general corporate purposes, including working capital.
Oppenheimer & Co. Inc. is acting... More
September 22, 2016 4:01 PM EDT
PETALUMA, CA -- (Marketwired) -- 09/22/16 -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, today announced restructuring and cost savings initiatives that are expected to result in approximately $20 million of annualized operating expense savings.
Enphase is reducing approximately 11 percent of its global workforce and eliminating certain non-core projects. The Company expects to incur aggregate restructuring charges in the third quarter of 2016 of approximately $3.0 million, including approximately $1.7 million in cash-based severance and related benefits, and approximately $1.3 million in non-cash expense for asset impairments and write-offs related... More
