SolarEdge Technologies Stock Plunges on Customer Bankruptcy

SolarEdge Technologies said one of its customers has filed for bankruptcy and likely won't be able to pay the $11.4 million it owes. In addition, the company warned that it expects that it spent $150 million in free cash in the current quarter. SolarEdge also announced it is selling $300 million in convertible notes. SolarEdge wrote in a Securities and Exchange Commission (SEC) filing Monday that PM&M Electric, a solar panel installer in Arizona, owes the company $11.4 million, and noted that while it is mo ...