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.
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.