Solyndra LLC has filed for Chapter 11 bankruptcy protection. Staff has been laid off. Solyndra is a Fremont-based manufacturer of solar power systems. Global economic conditions and the solar industry have made their business model unsustainable. In June, the company dropped plans for an IPO. American solar manufacturers have been affected by a worldwide plunge [...]
Tag Archives: Solyndra
Solyndra Closes $75 Mil Credit Facility
According to the press release, “Solyndra, a manufacturer of cylindrical solar photovoltaic (PV) systems for large industrial and commercial rooftops, today announced the closing of a new $75 million secured credit facility underwritten by existing investors. The proceeds from the financing will be used to support Solyndra’s working capital requirements, accelerate the Company’s ongoing cost [...]
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Solyndra withdraws IPO
According to the press release, “Solyndra, Inc. today announced that it has entered into an agreement for the sale of secured convertible promissory notes to certain of its existing investors in an aggregate principal amount of $175 million in a private placement. Proceeds from the sales of such notes will be used to fund the [...]
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Solyndra, Inc. Files Registration Statement for Initial Public Offering
According to the Press Release, “Solyndra, Inc., a manufacturer of innovative cylindrical photovoltaic systems for commercial rooftops, announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The joint book-running managers of the proposed offering will be Goldman, Sachs [...]
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Solyndra Breaks Ground on New 500 Megawatt Solar Plant
Fremont, CA, September 4, 2009 – Solyndra, Inc. today commenced construction of its second solar panel manufacturing plant (Fab 2). Located near its current manufacturing facility in Fremont, California, Fab 2 is designed to produce 500 megawatts per year. The new facility will enable Solyndra to fulfill its announced contractual backlog of over $2 billion [...]
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