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Investing.com -- Sunnova Energy International (NYSE:NOVA) shares saw a significant drop of 16% in premarket trading following a report from The Wall Street Journal that the company is considering various options, including a potential bankruptcy filing.
The shares were trading at about 31 cents, marking a 91% decrease over the past year.
The Wall Street Journal’s report indicates that the rooftop solar company is preparing to engage with its creditors to explore options due to its approximately $8.5 billion in debt.
The company is reportedly assembling financial data and may soon start negotiations with lenders and bondholders regarding potential ways to reduce its debt and address upcoming maturities.
These discussions could take place either within or outside of bankruptcy court, as per the report.
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