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Enphase registers 7.5 million common shares for resale by SunPower

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Enphase registers 7.5 million common shares for resale by SunPower

Enphase Energy Inc. filed a registration statement for the resale from time to time by SunPower Corp. of up to 7.5 million Enphase common shares in an offering valued at $42.3 million.

The common shares were initially issued under a June 12 asset purchase agreement between Enphase and SunPower, according to a filing.

In June, Enphase proposed the acquisition of SunPower's microinverter business for $25 million in cash and 7.5 million Enphase common shares. The transaction was completed in August.

Enphase agreed to pay all costs, expenses and fees related to the registration of the resale of the common shares. The company will not receive any proceeds from the sale of shares by SunPower, the selling stockholder.