Complete Solaria, Inc. (NASDAQ:CSLR) shares are trading higher Monday after the company announced it has eliminated $67.6 million of its private equity debt.
The Details:
Complete Solaria announced it had canceled $67.6 million in debt from its balance sheet and been released from its obligations under that debt by its two private equity providers, Carlyle and Kline Hill Partners.
On May 15, 2024, the company announced that it had signed an agreement with Carlyle to set aside all of its financial claims in return for $10 million in cash. Complete Solaria announced an equivalent deal with Kline Hill Partners for $8 million Monday.
The company also announced the investment by T.J. Rodgers has been increased from $10 million to $18 million to fund both private equity settlement deals.
"The reason for this press release is to announce that Complete Solaria is free of all of its prior private equity debt obligations, and that we have eliminated $67.6 million of long-term debt from our balance sheet," commented T.J. Rodgers, CEO of Complete Solaria.
How To Buy CSLR Stock:
By now you're likely curious about how to participate in the market for Complete Solaria – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Complete Solaria, which is trading at $1.58 as of publishing time, $100 would buy you 63.29 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
CSLR Price Action: According to Benzinga Pro, Complete Solaria shares are up 47.3% at $1.65 at the time of publication Monday.
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Image: mariana-proenca from Unsplash