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SunEdison Stockholders Vote To Increase Authorized Number Of Shares Of Common Stock

Stocks in this article: SUNE

ST. PETERS, Mo. , June 13, 2014 /PRNewswire/ -- SunEdison, Inc. (the "Company") (NYSE: SUNE), announced today that, at its May 29, 2014 Annual Meeting, its stockholders voted to approve an amendment to the Company's Amended and Restated Certificate of Incorporation to increase the number of the Company's authorized shares of common stock issuable from 300,000,000 to 700,000,000. The increase in authorized shares of common stock will allow the Company to satisfy issuances under future equity-based awards as well as issuances required upon conversion of the Company's 2.00% Convertible Senior Notes Due 2018 (the "2018 Notes") and the Company's 2.75% Convertible Senior Notes Due 2021 (the "2021 Notes"). The approval gives the Company discretion to elect to settle its conversion obligations in cash, shares of its common stock, or a combination of cash and shares of its common stock and allows the Company to issue the maximum number of shares issuable upon conversion of the 2018 Notes and the 2021 Notes in accordance with the continued listing standards of the New York Stock Exchange.

The foregoing information regarding the Company's 2018 Notes and 2021 Notes is general in nature and is qualified by reference to the full text of the indentures governing the 2018 Notes and 2021 Notes, attached as exhibits to our Annual Report on Form 10-K for the year ended December 31, 2013 filed with the U.S. Securities and Exchange Commission on March 6, 2014.

Complete voting results of the Company's 2014 Annual Meeting are contained in a Form 8-K filed with the U.S. Securities and Exchange Commission on May 30, 2014.

About SunEdison

SunEdison is a global leader in transforming how energy is generated, distributed and owned. SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government and utility customers. SunEdison also provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems worldwide via the company's Renewable Operation Center (ROC). SunEdison has offices in North America, Europe, Latin America, Africa and Asia. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE."

Forward-Looking Statements

Some of the statements in this press release are "forward-looking" and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements include statements relating to, among other things, the approval giving the Company discretion to elect to settle its conversion obligations in cash, shares of its common stock, or a combination of cash and shares of its common stock These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release. The forward-looking statements in this press release speak only as of the date of this press release and are subject to uncertainty and changes. Given these circumstances, you should not place undue reliance on these forward-looking statements. SunEdison expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based.

 

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