Sunnova Energy drops after report company could consider bankruptcy
ReutersMar 13, 2025 10:27 AM
Solar firm Sunnova Energy's NOVA.N shares drop 12.9% to $0.32 premarket
Company preparing restructuring talks with creditors that could include filing for bankruptcy, Wall Street Journal reports late Wednesday, citing sources
Company holds roughly $8.5 billion in debt, according to the report
NOVA warned March 3 it had doubts about its ability to continue as a going concern, as current cash flow and existing financing agreements not enough to fund operations
Going concern warning sent NOVA shares to an all-time low on March 3
Company on Monday named Paul Mathews as president and CEO
As of Wednesday's close, stock down more than 89% YTD
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