Sunrun Reports Material Agreement, Financial Obligation, and Equity Sales
Ticker: RUN · Form: 8-K · Filed: Feb 27, 2024 · CIK: 1469367
Sentiment: neutral
Topics: material-agreement, debt, equity-sales, corporate-action
TL;DR
**Sunrun just filed an 8-K for a new material agreement, financial obligation, and equity sales, but the details are missing!**
AI Summary
Sunrun Inc. filed an 8-K on February 27, 2024, reporting events that occurred on February 22, 2024. The filing indicates the company entered into a Material Definitive Agreement and created a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. It also reported Unregistered Sales of Equity Securities. Specific details regarding the parties involved, dollar amounts, or the nature of these agreements are not provided in the excerpt.
Why It Matters
This filing signals significant corporate actions by Sunrun Inc., potentially impacting its financial structure, future operations, and shareholder equity, though the specific implications cannot be determined without the full details of the agreements.
Risk Assessment
Risk Level: medium — The filing indicates significant financial and contractual changes (material agreement, financial obligation, equity sales) which inherently carry a medium level of risk due to potential unknown impacts on the company's financial health and stock performance.
Key Players & Entities
- Sunrun Inc. (company) — Registrant
- Delaware (location) — State of incorporation
- San Francisco (location) — Business address city
- California (location) — Business address state
FAQ
What is the earliest event date reported in this 8-K filing?
The earliest event date reported in this 8-K filing is February 22, 2024.
Which company filed this 8-K?
Sunrun Inc. (CIK: 0001469367) filed this 8-K.
What are the primary items reported in this 8-K?
The primary items reported are Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement, and Unregistered Sales of Equity Securities.
When was this 8-K filed with the SEC?
This 8-K was filed with the SEC on February 27, 2024.
What is Sunrun Inc.'s state of incorporation and business address?
Sunrun Inc. is incorporated in Delaware, and its business address is 225 Bush Street, Suite 1400, San Francisco, California 94104.
Filing Stats: 3,051 words · 12 min read · ~10 pages · Grade level 14.5 · Accepted 2024-02-27 16:06:03
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share RUN Nasdaq Glob
- $475 million — o (the "Purchasers"), to issue and sell $475 million aggregate principal amount of 4.00% Con
- $75 million — were first issued, up to an additional $75 million aggregate principal amount of Notes on
- $462.8 million — ed offering expenses) was approximately $462.8 million. The Company used (i) approximately $83
- $83.3 million — ion. The Company used (i) approximately $83.3 million of the net proceeds of the offering to
- $97.5 million — he offering to repurchase approximately $97.5 million aggregate principal amount of its 0% Co
- $855 — .5% and which is equal to approximately $855 per each of the 2026 notes, in privatel
- $37.7 million — its affiliates, and (ii) approximately $37.7 million of the net proceeds of the offering to
- $1,000 — $0.0001 per share ("Common Stock"), per $1,000 principal amount of Notes (which is equ
- $16.29 — itial conversion price of approximately $16.29 per share). The conversion rate will be
- $50 million — te recourse indebtedness)) in excess of $50 million (or its foreign currency equivalent) in
- $16.2945 — n initial strike price of approximately $16.2945 per share, which corresponds to the ini
- $22.3650 — Capped Calls have initial cap prices of $22.3650 per share. The Capped Calls cover, subj
Filing Documents
- d722692d8k.htm (8-K) — 47KB
- d722692dex41.htm (EX-4.1) — 611KB
- d722692dex101.htm (EX-10.1) — 146KB
- d722692dex102.htm (EX-10.2) — 168KB
- d722692dex991.htm (EX-99.1) — 8KB
- d722692dex992.htm (EX-99.2) — 11KB
- g722692folio067.jpg (GRAPHIC) — 2KB
- g722692folio068.jpg (GRAPHIC) — 3KB
- g722692folio069.jpg (GRAPHIC) — 3KB
- g722692folio070.jpg (GRAPHIC) — 3KB
- g722692folio072.jpg (GRAPHIC) — 2KB
- g722692folio073.jpg (GRAPHIC) — 3KB
- 0001193125-24-047912.txt ( ) — 1358KB
- run-20240222.xsd (EX-101.SCH) — 3KB
- run-20240222_lab.xml (EX-101.LAB) — 18KB
- run-20240222_pre.xml (EX-101.PRE) — 11KB
- d722692d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 4.1 Indenture, dated February 27, 2024, between Sunrun Inc. and Computershare Trust Company, National Association. 4.2 Form of 4.00% Convertible Senior Note due 2030 (included in Exhibit 4.1). 10.1 Purchase Agreement, dated February 22, 2024, by and among Sunrun Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC, as representatives of the several initial purchasers named in Schedule I thereto. 10.2 Form of Capped Call Confirmation. 99.1 Press Release, dated February 21, 2024, announcing proposed private offering of $475 million of convertible senior notes. 99.2 Press Release, dated February 23, 2024, announcing pricing for private offering of $475 million of convertible senior notes. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)
SIGNATURES
SIGNATURES 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 thereunto duly authorized. SUNRUN INC. Date: February 27, 2024 By: /s/ Jeanna Steele Jeanna Steele Chief Legal & People Officer