Shares of SunPower Corporation (SPWR) and First Solar, Inc. (FSLR) surged more than 12% and 9% respectively in extended-hours trading on Monday, following the announcement that the companies are in advanced negotiations to form a joint YieldCo vehicle (a holding company that pays dividends with a high yield) to which each firm would contribute a portfolio of selected solar generation assets from their existing portfolios.
Upon the execution of a master formation agreement between the companies, SPWR and FSLR intend to file a registration statement with the Securities and Exchange Commission (SEC) for an initial public offering of limited partner interests in the YieldCo (IPO).
SPWR and FSLR said that formation of the YieldCo and completion of the IPO are subject to, among other things, the execution of definitive documentation, each party's board approval and regulatory approval, and there is no assurance that the YieldCo will be formed or that the IPO will be consummated or that any other transaction will occur.
SPWR designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today.
More about SunPower Corporation (SPWR) at www.sunpowercorp.com
FSLR is a leading global provider of comprehensive photovoltaic solar systems, which use its advanced module and system technology.
More about First Solar Inc. (FSLR) at www.firstsolar.com.
**
After the closing bell on Monday, Patriot National, Inc. (PN) reported certain unaudited preliminary financial results.
For the fourth quarter 2014, PN expects to report revenue in the range of $39.0 million to $40.0 million (better than the Capital IQ Estimate of $34.5 million in revenue for the period) and reference premiums of approximately $82.0 million.
PN anticipates that net income and adjusted EBITDA will exceed analysts' expectations for the fourth quarter 2014.
PN will report its fourth quarter and full year 2014 financial results on March 16, 2015.
PN is a national provider of comprehensive outsourcing solutions within the workers' compensation marketplace for insurance companies, employers, local governments and reinsurance captives.
More about Patriot National, Inc. (PN) at www.patnat.com
**
Crown Equity Holdings Inc. (CRWE) is currently developing its CRWE Network ( www.CRWE-PR.com ), a growing network of community targeted sites.
It has recently included the City of Clovis, CA ( www.clovis.crwe-pr.com ) into the CRWE Network.
Clovis is a city in Fresno County, California, situated in the midst of the agriculturally rich San Joaquin Valley, 9 miles northeast of Fresno.
The City of Clovis had an estimated population in 2013 (U.S. Census Bureau) of 99,769, and represents an important marketplace for the CRWE Network, which business model is based on selling advertising to businesses targeting both locally and nationally
The CRWE Network has reached the 1487th community website in the U.S. and includes coverage in the states of California, Mississippi, Michigan, Florida, Nevada and New York, as well as across 10 provinces in Canada.
CRWE provides marketing solutions that boost customer awareness and merchant visibility on the Internet.
More about Crown Equity Holdings Inc. (CRWE) at www.crownequityholdings.com
**
Disclaimer: CRWE-PR Finance is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read Full Disclaimer at CRWE-PR Finance www.finance.crwe-pr.com/disclaimer
Upon the execution of a master formation agreement between the companies, SPWR and FSLR intend to file a registration statement with the Securities and Exchange Commission (SEC) for an initial public offering of limited partner interests in the YieldCo (IPO).
SPWR and FSLR said that formation of the YieldCo and completion of the IPO are subject to, among other things, the execution of definitive documentation, each party's board approval and regulatory approval, and there is no assurance that the YieldCo will be formed or that the IPO will be consummated or that any other transaction will occur.
SPWR designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today.
More about SunPower Corporation (SPWR) at www.sunpowercorp.com
FSLR is a leading global provider of comprehensive photovoltaic solar systems, which use its advanced module and system technology.
More about First Solar Inc. (FSLR) at www.firstsolar.com.
**
After the closing bell on Monday, Patriot National, Inc. (PN) reported certain unaudited preliminary financial results.
For the fourth quarter 2014, PN expects to report revenue in the range of $39.0 million to $40.0 million (better than the Capital IQ Estimate of $34.5 million in revenue for the period) and reference premiums of approximately $82.0 million.
PN anticipates that net income and adjusted EBITDA will exceed analysts' expectations for the fourth quarter 2014.
PN will report its fourth quarter and full year 2014 financial results on March 16, 2015.
PN is a national provider of comprehensive outsourcing solutions within the workers' compensation marketplace for insurance companies, employers, local governments and reinsurance captives.
More about Patriot National, Inc. (PN) at www.patnat.com
**
Crown Equity Holdings Inc. (CRWE) is currently developing its CRWE Network ( www.CRWE-PR.com ), a growing network of community targeted sites.
It has recently included the City of Clovis, CA ( www.clovis.crwe-pr.com ) into the CRWE Network.
Clovis is a city in Fresno County, California, situated in the midst of the agriculturally rich San Joaquin Valley, 9 miles northeast of Fresno.
The City of Clovis had an estimated population in 2013 (U.S. Census Bureau) of 99,769, and represents an important marketplace for the CRWE Network, which business model is based on selling advertising to businesses targeting both locally and nationally
The CRWE Network has reached the 1487th community website in the U.S. and includes coverage in the states of California, Mississippi, Michigan, Florida, Nevada and New York, as well as across 10 provinces in Canada.
CRWE provides marketing solutions that boost customer awareness and merchant visibility on the Internet.
More about Crown Equity Holdings Inc. (CRWE) at www.crownequityholdings.com
**
Disclaimer: CRWE-PR Finance is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read Full Disclaimer at CRWE-PR Finance www.finance.crwe-pr.com/disclaimer
