MILPITAS, Calif., June 24, 2024--SolarEdge Technologies, Inc. (Nasdaq: SEDG) ("SolarEdge") today announced its intention to offer, subject to market conditions and other factors, $300 million aggregate principal amount of Convertible Senior Notes due 2029 (the "Notes") in a private offering (the "Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In connection with the Offering,
SolarEdge (SEDG) introduces its three-phase solar inverter and home battery solution designed to achieve the maximum efficiency possible in its class by boosting power density and efficiency.
A weak market for residential solar in Europe prompts JP Morgan to trim price targets on two players in the space: SolarEdge Technologies and Enphase Energy. "Europe resi solar demand remains moribund owing to still elevated channel inventories, low power pricing and near-term uncertainty related to elections and policy changes," analysts at the firm said in a research note.