solarcity corp (SCTY) Key Developments
SolarCity to Launch New Delaware Operations Center in Newark
Apr 16 15
SolarCity has launched its second operations center in Delaware in the city of Newark.
SolarCity Corporation Announces Resignation of Jonathan K. Shulkin from the Board of Directors
Apr 14 15
Jonathan K. Shulkin informed the Board of Directors of SolarCity Corporation that he had determined not to stand for re-election to the Board at the company's 2015 Annual Meeting of Stockholders. The Board accepted Mr. Shulkin's decision and thanked him for his service. Mr. Shulkin's decision to not seek re-election is not the result of any disagreement with the company.
Solarcity Corporation Issues New Series of Solar Bonds
Apr 3 15
On April 2, 2015, SolarCity Corporation issued new series of Solar Bonds through Incapital LLC (the distribution agent) pursuant to the earlier announced Solar Bond Program and the distribution agreement entered into by and between the company and the distribution agent on March 9, 2015. The offering period for the Offered Series began on March 23, 2015 and closed on March 30, 2015. The Solar Bonds in each Offered Series were issued pursuant to an indenture, dated as of October 15, 2014, by and between the company and U.S. Bank National Association, as trustee, as supplemented by a supplemental indenture, dated as of April 2, 2015, by and between the company and the Trustee, related to such Offered Series. The Solar Bonds of each offered series are senior unsecured obligations of the company. In addition, the occurrence of certain events will result in an 'Event of Default' with respect to each Offered Series, which may result in the acceleration of the maturity of such offered series. The following are the offered series: 1.60% Solar Bonds, Series 2015/C11-1: issued principal amount is $95,000, interest rate is 1.60% with maturity date of April 2, 2016; 2.65% Solar Bonds, Series 2015/C12-3: issued principal amount is $165,000, interest rate is 2.65% with maturity date of April 2, 2018; 3.60% Solar Bonds, Series 2015/C13-5: issued principal amount is $24,000, interest rate is 3.60% with maturity date of April 2, 2020; 4.70% Solar Bonds, Series 2015/C14-10: issued principal amount is $15,000, interest rate is 4.70% with maturity date of April 2, 2015.
SolarCity Seeks Acquisitions
Mar 30 15
SolarCity Corporation (NasdaqGS:SCTY) has announced a Fixed-Income Offering, SolarCity will use the proceeds for working capital and other general corporate purposes, including the financing of additional solar installations and/or financing potential acquisitions and strategic transactions.
SolarCity Announces Roseville Office Expansion
Mar 27 15
SolarCity announced its move into a vast new Roseville, California office to accommodate its growing local staff. The company currently employs more than 450 in sales, project management, marketing, design and IT roles at the location, and the company expects to boost its local workforce by 65% in 2015, hiring at least 300 additional employees to the inside sales team. The company inaugurated the new office on March 27, 2015 with a ribbon cutting ceremony. The bulk of the company's national inside sales team, which provides virtual solar energy consultations and services to customers in 16 states, is housed in Roseville. The new 60,000-square foot facility at 1000 Enterprise Way consolidates employees from five disparate offices in neighboring Granite Bay where Paramount Solar, acquired by SolarCity in 2013, was previously located. More than 250 employees also work at the company's Sacramento operations center, which provides solar installation services to the Sacramento metro area.