PETALUMA, CA--(Marketwired - January 10, 2017) - Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, today announced a $10 million strategic investment in the Company by T.J. Rodgers, founder and former CEO of Cypress Semiconductor, and John Doerr, chairman of Kleiner Perkins Caulfield & Byers. As part of the new investment, Mr. Rodgers will be appointed to Enphase's Board of Directors. Enphase anticipates using a portion of this investment for consulting services to optimize operating performance while supporting the growing global demand for its energy management systems.
The shares of Enphase's common stock issued in connection with the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"). Accordingly, these securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. Enphase has agreed to file on or before March 21, 2017, a registration statement covering the resale of the common stock. This press release shall not constitute an offer to sell or the solicitation of an offer to buy Enphase's common stock.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company, delivers simple, innovative and reliable energy management solutions that advance the worldwide potential of renewable energy. Enphase has shipped approximately 13 million microinverters, and over 540,000 Enphase residential and commercial systems have been deployed in more than 100 countries. For more information, visit www.enphase.com.
Enphase Energy®, the Enphase logo and other trademarks or service names are the trademarks of Enphase Energy, Inc.
This press release may contain forward-looking statements, including statements related to Enphase Energy's future financial performance, product performance, timing of availability of new products, and advantages of its technology and market trends. These forward-looking statements are based on the company's current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties and other risks detailed in the "Risk Factors" and elsewhere in Enphase Energy's latest Securities and Exchange Commission filings and reports, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.