Yesterday, Terraform and Terraform Global had to file extensions on the notice of delisting from NASDAQ. The stay of the delisting and request for a hearing have been approved by the exchange and the hearing is schedule for November 3rd. Of course this is stemming from Sunedison’s bankruptcy and the inability to issue proper financial results even though some have been trickling in. The yieldcos also have begun to work to get a new sponsor in place or seek strategic alternatives to Sunedison as the sponsor. Advisors have been engaged by both entities which include Centerview Partners, Morgan Stanley, AlixPartners and Greentech Capital Advisors. This summer some players began to make moves including Brookfield Asset Management, which acquired a significant stake in Terraform Power. The saga continues…
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Opinion
Have a great day!
Yann