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MarketScreener Homepage  >  Equities  >  Nyse  >  Vivint Solar Inc    VSLR

VIVINT SOLAR INC

(VSLR)
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Vivint Solar, Inc. (NYSE:VSLR) Files An 8-K Termination of a Material Definitive Agreement

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06/14/2018 | 06:06am EDT

Vivint Solar, Inc. (NYSE:VSLR) Files An 8-K Termination of a Material Definitive AgreementItem 1.02 of the Original Form 8-K in its entirety to correct a numerical error in the last sentence of such item by replacing the dollar amount “$200,775,306.51” with the dollar amount “$282,258,637.08”. No other changes are being made to the Original Form 8-K and no changes are being made to Exhibit 99.1 filed with the Original Form 8-K.

Item 1.02

TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT

Concurrently with the execution of the Transactions, the Credit Agreement, dated as of August 4, 2016, by and among Vivint Solar Financing II, LLC, as borrower, the financial institutions as lenders from time to time party thereto, and Investec Bank plc, as administrative agent (the “Term Loan A Facility”) and the Financing Agreement, dated as of March 14, 2016, by and among Vivint Solar Financing Holdings Parent, LLC, Vivint Solar Financing Holdings, LLC, as borrower, the lenders party thereto from time to time, and Highbridge Principal Strategies, LLC, as collateral agent and administrative agent (the “Highbridge Facility”) have been terminated.Proceeds from the Transactions were used to pay off the outstanding debt under the Term Loan A Facility, in an aggregate amount equal to $282,258,637.08, and the outstanding debt under the Highbridge Facility, in an aggregate amount equal to $206,413,090.11.

About Vivint Solar, Inc. (NYSE:VSLR)
Vivint Solar, Inc. primarily offers distributed solar energy, which is electricity generated by a solar energy system installed at or near customers’ locations to residential customers based on over 20-year contracts. The Company operates through two operating segments: Residential, and commercial and industrial market (C&I). Through its investment funds, the Company owns an interest in the solar energy systems the Company installs, and ownership of the solar energy systems allows it and the other fund investors to benefit from various local, state and federal incentives. The Company has a process that enables it to design and install a custom solar energy system that delivers customer savings. The Company is a licensed contractor in the markets the Company serves and is responsible for each customer installation. Upon completion, the Company schedules the required inspections and arranges for interconnection to the power grid.

The post Vivint Solar, Inc. (NYSE:VSLR) Files An 8-K Termination of a Material Definitive Agreement appeared first on Market Exclusive.

© Market Exclusive 2018, source Market Exclusive

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Financials ($)
Sales 2019 352 M
EBIT 2019 -105 M
Net income 2019 -38,8 M
Debt 2019 1 106 M
Yield 2019 -
P/E ratio 2019 17,75
P/E ratio 2020
EV / Sales 2019 4,80x
EV / Sales 2020 4,58x
Capitalization 583 M
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Number of Analysts 5
Average target price 8,15 $
Spread / Average Target 68%
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Managers
NameTitle
David H. Bywater President, Chief Executive Officer & Director
Peter F. Wallace Chairman
Bryan Christiansen Chief Operating Officer
Dana C. Russell CFO, Principal Accounting Officer & Executive VP
Mark Trout Chief Technology & Information Officer
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