Altai Capital Discloses New Position in TerraForm Power Inc. (TERP)

In its recent filing with the U.S. Securities and Exchange Commission, Altai Capital, led by Rishi Bajaj, Toby Symonds, and Steve Tesoriere, has revealed a new stake in TerraForm Power Inc. (NASDAQ:TERP). The filing showed that Altai Capital owns 1.80 million class A common stock shares of the company. The new position amasses 6.5% of the outstanding class A common stock.

Solar Energy First Solar FSLR Solarcity SCTY 4

TerraForm Power Inc. (NASDAQ:TERP) is a subsidiary of SunEdison Inc. (NYSE: SUNE). TerraForm Power Inc. (NASDAQ:TERP), a dividend growth-oriented company formed to own and operate contracted clean power generation assets acquired from SunEdison and unaffiliated third parties, on Wednesday announced that it closed its Initial Public Offering of 20.07 million shares of its Class A common stock at a price to the public of $25.00 per share. The underwriters exercised in full their option to purchase an additional 3.01 million shares of Class A common stock at the initial public offering price, according to a press release.

At the same time, TerraForm Power Inc. (NASDAQ:TERP) and its subsidiaries also closed the two previously announced concurrent private placement transactions of $65.0 million in the aggregate at a price per share equal to the Initial Public Offering price, and the acquisition of the Mt. Signal solar project. The also closed a new $300 million term loan facility and $140 million revolving credit facility.

As of the end of the first quarter of 2014, Altai Capital disclosed owning 18.43 million shares of SunEdison Inc. (NYSE: SUNE), according to our record. Aside from Altai Capital, Indus Capital, managed by David Kowitz and Sheldon Kasowitz, and Jerome Debs’ Bodri Capital Management holds 12.03 million shares and 1.28 million shares of the company, respectively.

Altai Capital is a mid-sized hedge fund with a focus on the technology sector. In the beginning of this month, the fund reported reducing its exposure to RealD (NYSE:RLD), and initiating a new position in Servicesource International Inc (NASDAQ:SREV), owning 2.83 million shares and 8.22 million shares, respectively.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!