Complete Solaria Update: Operational Progress & PE Debt
Complete Solaria, Inc. (CSLR)
Company Research
Source: GlobeNewswire
FREMONT, Calif., April 11, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. (“Complete Solaria” or the “Company”) (Nasdaq: CSLR) today reported on its current financial status, which includes progress on its cash burn rate, and the status of its debt with private equity firms Kline-Hill Partners and Carlyle, which together hold about $70 million in debt owed on about $35 million of principal, split roughly equally between the two (see our 10K for exact numbers). First, we report on our progress in turning Complete Solaria (CSLR) around financially, starting with our dramatic headcount reduction from 428 to 109 (-74.5%) in seven rounds of layoffs. These layoffs were very unfortunate, but necessary for survival. And when any company keeps only the top 25% of its employees, it winds up with an excellent workforce. Yesterday, our board approved 2.6 million stock options to retain those employees for the next five years and to reward them for their sacrifices. There has been a concomit
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- Complete Solaria, Inc. (NASDAQ:CSLR) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Kline Hill Invests in Complete Solaria with Debt-Equity SwapGlobeNewswire
- Complete Solaria to be Self-Funded in Q2 2024GlobeNewswire
- Complete Solaria to Report Fourth Quarter 2023 and First Quarter 2024 Financial and Operational Results on May 2, 2024GlobeNewswire
- REPEAT - Complete Solaria Names T.J. Rodgers CEOGlobeNewswire