In recent transactions, CRSEF Solis Holdings, LLC, a significant shareholder in Complete Solaria, Inc. (NASDAQ: CSLR ), reported a series of stock sales, according to an SEC filing. The sale, executed according to a predetermined Rule 10b5-1 plan, took place over several days in late November. The transactions come at a time when Complete Solaria is showing high price volatility, with shares trading near $2.00, well above the 52-week low of $0.20, but well below the 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 25th at $2.00 per share, 73,986 shares on November 27th at a weighted average price of $2.0154 and 56,509 shares on November 29th at a weighted average price of $2.0323. The total value of these transactions was $272,236. According to InvestingPro data, while the company maintains a healthy current ratio of 2.46, it is currently burning cash quickly.
After these transactions, CRSEF Solis Holdings, LLC holds 2,020,865 shares of Complete Solaria. The The Carlyle Group (NASDAQ:) Inc. and its subsidiaries, through various entities, maintain a significant ownership stake in the company. For deeper insight into insider transactions and comprehensive analysis, investors can access detailed Pro Research Reports covering more than 1,400 US stocks via InvestingPro.
In other recent news, Complete Solaria Inc. has made several strategic moves. The semiconductor company recently appointed Lothar Maier as director of an expanded board and Daniel Foley as its new chief financial officer. The company also secured $32.3 million and $52.5 million through the issuance of convertible senior bonds maturing in 2029.
Complete Solaria intends to acquire the assets of SunPower ( OTC: ) pending final approval by the bankruptcy court, a move expected to expand its operating capacity and market reach. Analysts noted Complete Solaria’s successful elimination of $67.6 million in long-term debt and maintenance of a 24% gross margin despite declining revenue.
CEO TJ Rodgers shared the company’s future strategies, including integrating the assets acquired from SunPower Corporation and exploring new market opportunities. Other recent developments include a change in leadership, with Aaron Semliatschenko named the new vice president of US operations, and a change in auditors from Deloitte & Touche LLP to BDO USA, PC. These are recent developments that are shaping the company’s trajectory.
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