Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) stock identified change of 43.97% away from 52-week low price and recently located move of -54.92% off 52-week high price. It has market worth of $477.25M. MAXN stock has been recorded -7.45% away from 50 day moving average and -7.45% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.92% off 20-day moving average.
On Sept. 30, 2020, Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) declared the completion of its previously announced registered offering of Maxeon’s ordinary shares (the offering). The offering was conducted in connection with the physical delivery forward transaction between Maxeon and Merrill Lynch International, an affiliate of BofA Securities
On July 17, 2020, Maxeon completed the issuance and sale of $200.0 million aggregate principal amount of its 6.50% green convertible senior notes (the Notes) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The note valuation period for calculation of the initial conversion rate of the Notes concluded on September 29, 2020 and the Convertibility Commencement Date (as defined in the indenture governing the Notes) will occur on Thursday, October 1, 2020. In accordance with the indenture governing the Notes, Maxeon announced the initial conversion rate of 54.9611 ordinary shares per $1,000 principal amount of Notes.
In connection with the issuance of the Notes, Maxeon entered into the physical delivery forward transaction with respect to the ordinary shares sold in the offering pursuant to which the Merrill Lynch International agreed to deliver the same number of ordinary shares offered and sold in the offering to Maxeon and/or a third party-trustee designated by Maxeon for no consideration at or around the maturity of the Notes.
The Technology sector company, Maxeon Solar Technologies, Ltd. noticed change of -6.61% to $16.96 along volume of 1135635 shares in recent session compared to an average volume of 1.17M shares. The stock observed return of 22.45% in 5 days trading activity. The stock was at -18.38% over one month performance.
The average volatility for the week at 12.05% and for month was at 12.64%. There are 28.14M shares outstanding and 10.27M shares are floated in market.