SolarEdge Technologies Files 8-K Report

TL;DR

SOLAREDGE FILES 8-K - MORE INFO COMING

AI Summary

On June 24, 2024, SolarEdge Technologies, Inc. filed an 8-K report. The filing primarily concerns financial statements and exhibits, along with other events and a Regulation FD disclosure. Specific financial figures or operational updates beyond the filing's nature are not detailed in the provided text.

Why It Matters

This filing indicates that SolarEdge Technologies, Inc. is providing updated information to the SEC, which could include material events or financial disclosures relevant to investors.

Risk Assessment

Risk Level: low — The filing is a standard 8-K report, indicating routine disclosure rather than an immediate, high-impact event.

Key Players & Entities

• SOLAREDGE TECHNOLOGIES, INC. (company) — Filer
• June 24, 2024 (date) — Date of report
• 001-36894 (other) — Commission File Number
• 20-5338862 (other) — I.R.S. Employer Identification No.

FAQ

Key Financial Figures

• $0.0001 — h registered Common stock, par value $0.0001 per share SEDG Nasdaq Global Select M
• $11.4 million — mer that owes the Company approximately $11.4 million under a secured promissory note recentl
• $300 million — lease announcing its intention to offer $300 million aggregate principal amount of convertib
• $45 million — option to purchase up to an additional $45 million aggregate principal amount of Notes, so
• $250 million — ed: Revenues to be within the range of $250 million to $280 million; Non-GAAP gross margi
• $280 million — be within the range of $250 million to $280 million; Non-GAAP gross margin* expected to b
• $116 million — ing expenses* to be within the range of $116 million to $120 million; Revenues from the so
• $120 million — be within the range of $116 million to $120 million; Revenues from the solar segment to b
• $225 million — solar segment to be within the range of $225 million to $255 million; and Gross margin fro
• $255 million — be within the range of $225 million to $255 million; and Gross margin from the solar segm
• $150 m — d quarter of 2024 will be approximately $150 million, primarily as a result of certain

Filing Documents

• tm2417746d2_8k.htm (8-K) — 32KB
• tm2417746d2_ex99-1.htm (EX-99.1) — 14KB
• 0001104659-24-074320.txt ( ) — 221KB
• sedg-20240624.xsd (EX-101.SCH) — 3KB
• sedg-20240624_lab.xml (EX-101.LAB) — 33KB
• sedg-20240624_pre.xml (EX-101.PRE) — 22KB
• tm2417746d2_8k_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. SolarEdge Technologies, Inc. (the "Company") intends to disclose today to certain investors that PM&M Electric, Inc., a customer that owes the Company approximately $11.4 million under a secured promissory note recently filed for Chapter 7 bankruptcy. While the Company is closely monitoring the proceedings, it cannot guarantee the outcome of the proceedings and may fail to collect the amounts due to the Company or collect such amounts only after significant delay.

01. Other Events

Item 8.01. Other Events. Notes Offering On June 24, 2024, the Company issued a press release announcing its intention to offer $300 million aggregate principal amount of convertible senior notes due 2029 (the "Notes") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The Company also expects to grant the initial purchasers of the Notes an option to purchase up to an additional $45 million aggregate principal amount of Notes, solely to cover over-allotments, if any, within a 13-day period beginning on, and including, the initial closing date. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This Current Report on Form 8-K (this "Form 8-K") does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, the Notes (or any shares of common stock of the Company issuable upon conversion of the Notes) in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. Outlook for the Second Quarter 2024 With respect to the quarter ended June 30, 2024, the Company reconfirms the following guidance previously provided: Revenues to be within the range of $250 million to $280 million; Non-GAAP gross margin* expected to be within the range of negative 4% to 0%, including approximately 350 basis points of net IRA manufacturing tax credit; Non-GAAP operating expenses* to be within the range of $116 million to $120 million; Revenues from the solar segment to be within the range of $225 million to $255 million; and Gross margin from the solar segment expected to be within the range of negative 3% to positive 1% including approximately 420 basis points of net IRA manufacturing tax credit. However, the Company also expect

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document 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. SOLAREDGE TECHNOLOGIES, INC. Date: June 24, 2024 By: /s/ Ronen Faier Name: Ronen Faier Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR