Residential Solar Issuer Surges 56% on $26M Venture Private Placement
When a distressed clean-tech installer secures fresh capital from prominent Silicon Valley insiders while trading at a fraction of its annual sales, the market quickly prices in a valuation rebound against ongoing compliance and operational turnarounds.SunPower Inc. (Nasdaq: SPWR) surged on Thursday after announcing it raised $26.2M in an equity private placement round funded mainly by Sand Hill Road venture investors and anchored by Foris Ventures, the family office of Kleiner Perkins chairman John Doerr.Chief Executive Officer T.J. Rodgers attributed the company's depressed share price ...