Sunnova Energy International In
0.0001+0.00 (+0%)
Oct 28, 4:00:00 PM EDT · OTC Markets OTCPK · NOVAQ · USD
Key Stats
Market Cap
12.57KP/E (TTM)
-Basic EPS (TTM)
-2.96Dividend Yield
0%Recent Filings
8-K
Sunnova sells assets to Lennar
Sunnova Energy International Inc. closed the sale of its New Home WIP Assets—installed solar and storage systems, warranties, and easements—to Lennar Homes on June 16, 2025, for $15.2 million in cash. The deal, initially announced June 9, now includes additional Sunnova subsidiaries as sellers, transferring related liabilities under existing leases and contracts. This streamlines Sunnova's portfolio amid bankruptcy proceedings. Cash bolsters liquidity.
8-K
Sunnova Energy International Inc. files for Chapter 11 bankruptcy protection on June 8, 2025, in the Southern District of Texas, seeking to restructure amid financial challenges. The company secures a $90 million debtor-in-possession financing facility on June 13, 2025, to fund operations during proceedings. A parallel asset purchase agreement with Solaris entities offers $10 million cash plus credit bid for core assets, including subsidiaries and contracts, through a court-supervised auction process to maximize value.
Sunnova Energy International Inc. enters Chapter 11 bankruptcy on June 8, 2025, filing voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. On June 13, 2025, the company enters a Superpriority Senior Secured Debtor-in-Possession Credit Agreement for a $90 million DIP facility, with $15 million interim funding at 12% interest and a 12% funding fee, maturing September 22, 2025. The facility supports working capital and administrative costs during bankruptcy. Simultaneously, an Asset Purchase Agreement is signed with Solaris entities for $10 million cash plus credit bid of outstanding DIP obligations, targeting assets like equity in subsidiaries and contracts, excluding certain excluded items, subject to Bankruptcy Court approval under Sections 363 and 365. The sale aims to transfer assets free of encumbrances via a stalking horse bid process, with closing contingent on court orders and milestones like final DIP order by July 8, 2025, and plan confirmation by August 6, 2025.
8-K
Sunnova files Chapter 11, delisting looms
Sunnova Energy International filed for Chapter 11 bankruptcy on June 8, 2025, triggering immediate suspension and impending delisting of its NYSE common stock, which will shift to the less liquid Pink Open Market. The company secured $15 million from an asset sale to ATLAS SP Partners and $16 million from Lennar Homes for its New Homes unit to fund operations, while court approvals enable continued customer service and employee payments. Tax equity partnerships and asset-backed securities remain unaffected. Yet stockholders face substantial recovery risks.
8-K
Sunnova's bankruptcy asset sales
Sunnova Energy International Inc. filed for Chapter 11 bankruptcy on June 8, 2025, triggering asset sales to stabilize operations amid liquidity woes. The company inked a $15 million deal with Sunnova TEP Holdings for solar systems, contracts, and dealer claims, while offloading $16 million in installed systems and warranties to Lennar Homes. These moves aim to streamline debt, yet common stockholders face steep recovery risks in restructuring.
8-K
Sunnova enters Chapter 11
Sunnova Energy International Inc., along with subsidiaries Sunnova Energy Corporation and Sunnova Intermediate Holdings, LLC, filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of Texas on June 8, 2025, to restructure amid liquidity pressures. The debtors plan to operate as debtors in possession, seeking court approval for first-day motions to maintain employee wages, vendor payments, and insurance while pursuing an asset sale process. This filing triggered defaults under multiple indentures and warehouse facilities, accelerating obligations, and will likely lead to NYSE delisting of common stock. Equity holders face substantial recovery risks in the proceedings.
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