SUNation Energy (SUNE) Stock Jumps 26% After $835M Capital Raise for Solar Expansion
TLDR
- SUNation Energy (SUNE) stock jumped nearly 26% after merger partner Suniva completed an $835M capital raise
- Funds will go toward a new 4.5 GW solar cell manufacturing facility in Laurens County, South Carolina
- The new plant costs around $600M and is expected to be complete in late 2027, with full production in 2028
- Investors in the raise include Goldman Sachs, Lion Point Capital, I Squared Capital, and others
- The deal will bring Suniva’s total U.S. solar cell capacity to 5.5 GW once the new facility is fully operational
SUNation Energy (SUNE) stock surged nearly 26% in premarket trading Wednesday, hitting $2.98, after its pending merger partner Suniva announced it closed an $835 million capital raise.
The money will fund a major expansion of U.S. solar cell manufacturing, with a new facility planned for South Carolina.
Suniva raised the capital through a mix of debt and equity. Backers include Lion Point Capital, Goldman Sachs Alternatives, I Squared Capital, JBA Asset Management, Electron Capital Partners, Orion Infrastructure Capital, and Rubric Capital Management.
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