In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), TerraForm Global Inc. (NASDAQ:GLBL) reported that Knighthead Capital has picked up 7,280,000 of common stock as of 2016-12-27.
The acquisition brings the aggregate amount owned by Knighthead Capital to a total of 7,280,000 representing a 6.43 % stake in the company.
For those not familiar with the company, TerraForm Global, Inc. is a renewable energy company. The Company owns and operates clean energy power plants. The Company’s segments include Solar, Wind and Corporate. The Company serves a range of utility, commercial, industrial, residential and government customers through energy production with over 40 projects across approximately 70 sites in various markets. The Company’s projects include Brakes, ESP Urja, Boshof, Silverstar Pavilion, NSM Sitara, Dunhuang, Salvador, Hanumanhatti, Focal, Alto Cielo, Witkop and others. The Company’s over 917 megawatts (MW) portfolio enables around the clock energy production. The Company’s solar and wind projects are located across various regions, including Brazil, India, South Africa, China, Thailand, Malaysia and Uruguay. The Company is a subsidiary of SunEdison, Inc. The Company’s subsidiaries include TerraForm Global, LLC and TerraForm Global Operating, LLC.
A glance at TerraForm Global Inc. (NASDAQ:GLBL)’s key stats reveals a current market capitalization of 689.47 million based on 113.21 million shares outstanding and a price at last close of $3.95 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-08-25, Domenech picked up 15,625 at a purchase price of $8.05. This brings their total holding to 1,371,993 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on TerraForm Global Inc. (NASDAQ:GLBL) as things move forward to see if its progress aligns with these transactions.
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