SolarEdge Technologies announced its intention to offer $300 million in Convertible Senior Notes due 2029, with an additional $45 million option for initial purchasers. The company plans to use proceeds to fund capped call transactions, redeem a portion of its 2025 Convertible Notes, and for general corporate purposes.The company reaffirmed its Q2 2024 guidance with expected revenues of $250-280 million and solar segment revenues of $225-255 million. However, it projects free cash usage of approximately $150 million in Q2, primarily due to discretionary minority investments, customer credit extensions, and U.S. manufacturing ramp-up costs.Additionally, SolarEdge disclosed that customer PM&M Electric, which owes $11.4 million under a secured promissory note, has filed for Chapter 7 bankruptcy. The company is monitoring the proceedings but cannot guarantee the recovery of the owed amount.

SolarEdge Technologies announced its intention to offer $300 million in Convertible Senior Notes due 2029, with an additional $45 million option for initial purchasers. The company plans to use proceeds to fund capped call transactions, redeem a portion of its 2025 Convertible Notes, and for general corporate purposes.The company reaffirmed its Q2 2024 guidance with expected revenues of $250-280 million and solar segment revenues of $225-255 million. However, it projects free cash usage of approximately $150 million in Q2, primarily due to discretionary minority investments, customer credit extensions, and U.S. manufacturing ramp-up costs.Additionally, SolarEdge disclosed that customer PM&M Electric, which owes $11.4 million under a secured promissory note, has filed for Chapter 7 bankruptcy. The company is monitoring the proceedings but cannot guarantee the recovery of the owed amount.