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FOCUS LIST🔎
CSLR – Up over 80% in the pre-market after announcing it has eliminated $67.6 Million of Private Equity Debt
BW – Up over 10% in pre after selling its Denmark based renewable parts and services subsidiary for $87 million cash
CHWY – Up over 15% in pre after Roaring Kitty a.k.a Keith Gill disclosed a 6.6% passive stake in the company
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HOTLIST🔥
CSLR – Up over 80% in the pre-market after announcing it has eliminated $67.6 Million of Private Equity Debt
Complete Solaria Inc. (CSLR) provides custom solar solutions in the United States. The company offers solar systems to homeowners and small to medium-sized commercial customers.
In the pre-market this morning the company announced that it had eliminated $67.6 Million of Private Equity Debt.
CSLR has today been released from its obligations under that debt by its two private equity (PE) providers, Carlyle and Kline Hill Partners.
On May 15, 2024, the Company announced that it had signed an agreement with Carlyle to set aside all of its financial claims in return for $10 million in cash. Today, we announce an equivalent deal with Kline Hill Partners for $8 million.
On June 17, 2024, the Company announced that T.J. Rodgers had funded the $10 million payment to Carlyle by purchasing a convertible debenture security from the Company through Cantor Fitzgerald & Company. Today, we announce that the investment by T.J. Rodgers has been increased from $10 million to $18 million to fund both private equity settlement deals.
The deal is enough to pay off the private equity partners and once again to provide $18 million in new working capital.
CSLR stock traded up over 80% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $2.14.
Beyond that, $2.20, $2.29, $2.60, $2.90 and $3 come into play.
Below $2.14, targets to the downside are $1.81, $1.60, $1.50, $1.38, $1.20 and then a gap fill at $1.12.
BW – Up over 10% in pre after selling its Denmark based renewable parts and services subsidiary for $87 million cash
Babcock & Wilcox Enterprises, Inc. (BW), together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers worldwide.
In the pre-market this morning, the company announced that it had sold its Denmark based renewable parts and services subsidiary for $87 million cash.
The sale aligns with B&W’s comprehensive business strategy to reduce long-term debt and optimize capital structure
The company reiterates its Full Year 2024 Adjusted EBITDA target range of $105 million to $115 million, excluding BrightLoop™ and ClimateBright™ expenses.
The stock traded up over 10% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $1.70.
Beyond that, $1.90, $2 and $2.40 come into play.
Below $1.70, targets to the downside are $1.60, $1.55, $1.50 and then a gap fill at $1.45.
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CHWY – Up over 15% in pre after Roaring Kitty a.k.a Keith Gill disclosed a 6.6% passive stake in the company
Chewy Inc. (CHWY) together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services.
In the pre-market this morning, Roaring Kitty a.k.a Keith Gill disclosed a 6.6% passive stake in the company.
The disclosure with the US Securities and Exchange Commission shows Gill owns roughly 9 million Class A shares, worth about $245 million based on Friday’s closing price.
“Roaring Kitty,” shot to fame after initiating the famous GME short squeeze in 2021 and earlier this year.
CHWY is up over 15% in reaction to the new stake by Roaring Kitty in what is apparently his first big investment besides GME.
The $31 area has acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $33, $34 and then the pre-market high at $35.25. Beyond that, $39.10, $40 and $42 come into play.
Below $31, targets to the downside are $30, $29.50, $28 and then a gap fill at $27.24.
MARKET NEWS 📰
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