- ReneSola Ltd (NYSE:SOL) has entered into a securities repurchase agreement with ReneSola Singapore Pte. Ltd.
- Under the agreement, the company will repurchase from ReneSola Singapore 3 million American Depository Shares at a price of $4.4 per share, totaling $13.2 million.
- In addition, Shah Capital will purchase the remaining 2.05 million ADSs owned by ReneSola Singapore at $4.4 per ADS, totaling $9.02 million through a privately negotiated transaction.
- The purchase price represents ~25% discount to ReneSola’s net asset value as of September 30, 2022.
- The closing of the share repurchase is expected to occur within three business days from January 4, 2023.
- After completing the two transactions, ReneSola’s primary shareholders will be all domiciled outside of China.
- Price Action: SOL shares are trading higher by 1.84% at $4.43 in premarket on the last check Wednesday.
Telsey Advisory Group Maintains Outperform on Lululemon Athletica, Raises Price Target to $460
Telsey Advisory Group analyst Dana Telsey maintains Lululemon Athletica (NASDAQ:LULU) with a Outperform and raises the price target from $440 to $460.
