In recent transactions, CRSEF Solis Holdings, L.L.C., a significant stakeholder in Complete Solaria, Inc. (NASDAQ:CSLR), reported a series of stock sales according to an SEC filing. The sales, executed under a pre-established Rule 10b5-1 plan, took place over several days in late November. The transactions come as Complete Solaria shows high price volatility, with the stock trading near $2.00, significantly above its 52-week low of $0.20 but well below its high of $3.37.
On November 21, 3,901 shares were sold at a weighted average price of approximately $2.0206, with prices ranging from $2.01 to $2.035. Subsequent sales included 200 shares on November 25 at $2.00 per share, 73,986 shares on November 27 at a weighted average price of $2.0154, and 56,509 shares on November 29 at a weighted average price of $2.0323. The total value of these transactions amounted to $272,236. According to InvestingPro data, while the company maintains a healthy current ratio of 2.46, it's currently burning through cash rapidly.
Following these transactions, CRSEF Solis Holdings, L.L.C. holds 2,020,865 shares of Complete Solaria. The Carlyle Group (NASDAQ:CG) Inc. and its affiliates, through various entities, maintain a significant ownership interest in the company. For deeper insights into insider transactions and comprehensive analysis, investors can access detailed Pro Research Reports covering over 1,400 US stocks through InvestingPro.
In other recent news, Complete Solaria Inc. has made several strategic moves. The semiconductor company has recently appointed Lothar Maier as a director to its expanded board and Daniel Foley as its new Chief Financial Officer. The company has also secured $32.3 million and $52.5 million through the issuance of Convertible Senior Notes due 2029.
Complete Solaria is set to acquire SunPower (OTC:SPWRQ)'s assets, pending final approval by the Bankruptcy Court, a move expected to expand its operational capacity and market reach. Analysts have noted Complete Solaria's successful elimination of $67.6 million in long-term debt and maintenance of a gross margin of 24% despite a drop in revenue.
CEO T.J. Rodgers has shared the company's future strategies, including the integration of assets acquired from SunPower Corporation and exploring new market opportunities. Other recent developments include a change in leadership, with Aaron Semliatschenko appointed as the new Vice President of U.S. Operations, and a shift in auditors from Deloitte & Touche LLP to BDO USA, P.C. These are the recent developments shaping the company's trajectory.
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