Sunnova Energy Terminates Material Definitive Agreement
Ticker: NOVAQ · Form: 8-K · Filed: Oct 4, 2024 · CIK: 1772695
| Field | Detail |
|---|---|
| Company | Sunnova Energy International INC. (NOVAQ) |
| Form Type | 8-K |
| Filed Date | Oct 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $65,000,000, $47,257.47 |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, material-event
TL;DR
Sunnova terminated a big deal, effective Oct 1st. Details TBD.
AI Summary
Sunnova Energy International Inc. announced on October 4, 2024, the termination of a material definitive agreement. The filing does not specify the counterparty or the nature of the agreement, but it was effective as of October 1, 2024.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's operations, financial standing, and future strategic direction.
Risk Assessment
Risk Level: medium — The termination of a material definitive agreement introduces uncertainty regarding the company's business relationships and financial projections.
Key Players & Entities
- Sunnova Energy International Inc. (company) — Registrant
- October 4, 2024 (date) — Date of Report
- October 1, 2024 (date) — Effective Date of Termination
FAQ
What specific material definitive agreement was terminated?
The filing does not specify the name or details of the terminated agreement.
Who was the counterparty to the terminated agreement?
The filing does not disclose the identity of the other party involved in the agreement.
What are the financial implications of this termination for Sunnova Energy?
The filing does not provide details on the financial impact of the agreement's termination.
When did the termination officially take effect?
The termination was effective as of October 1, 2024.
Does this termination affect any ongoing projects or services provided by Sunnova Energy?
The filing does not contain information regarding the effect of the termination on ongoing operations.
Filing Stats: 539 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-10-04 16:18:09
Key Financial Figures
- $0.0001 — ange on Which Registered Common Stock, $0.0001 par value per share NOVA New York Stock
- $65,000,000 — with an aggregate commitment amount of $65,000,000. At the time of termination, no loans
- $47,257.47 — AP9 Facility in an aggregate amount of $47,257.47 of accrued fees and expenses were paid
Filing Documents
- nova-20241004.htm (8-K) — 23KB
- 0001772695-24-000078.txt ( ) — 143KB
- nova-20241004.xsd (EX-101.SCH) — 2KB
- nova-20241004_lab.xml (EX-101.LAB) — 21KB
- nova-20241004_pre.xml (EX-101.PRE) — 12KB
- nova-20241004_htm.xml (XML) — 3KB
02. Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement. On October 1, 2024, the previously disclosed Credit Agreement, dated as of September 5, 2023 (the "AP9 Facility"), by and among Sunnova Asset Portfolio 9, LLC, as the borrower (the "Borrower"), Sunnova SLA Management, LLC, as the servicer, Sunnova Asset Portfolio 9 Holdings, LLC, as the seller, the lenders from time to time party thereto, the funding agents from time to time party thereto, Citibank, N.A., as administrative agent for the lenders, U.S. Bank Trust Company, National Association, as paying agent, and U.S. Bank, National Association, as custodian and securities intermediary, was voluntarily terminated by the Borrower. The AP9 Facility contemplated the financing of home improvement loans and related home improvement assets acquired by the Borrower with an aggregate commitment amount of $65,000,000. At the time of termination, no loans were outstanding under the AP9 Facility. Upon termination, all outstanding obligations under the AP9 Facility in an aggregate amount of $47,257.47 of accrued fees and expenses were paid in full and all hedging agreements permitted by the AP9 Facility were settled. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SUNNOVA ENERGY INTERNATIONAL INC. Date: October 4, 2024 By: /s/ David Searle David Searle Executive Vice President, General Counsel and Chief Compliance Officer