UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.01 Completion of Acquisition or Disposition of Assets.
On June 24, 2021, FTC Solar, Inc. sold its minority investment in Dimension Energy LLC, a community solar developer based in Atlanta, for a net payout of approximately $22 million, with the potential to receive an additional payout of up to approximately $14 million through an earn-out structure. FTC Solar, Inc.’s minority investment in Dimension Energy LLC was acquired for $4 million in 2018.
Item 8.01 Other Events.
On June 28, 2021, FTC Solar, Inc. issued a press release announcing the sale of its minority investment in Dimension Energy LLC.
A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated into this Item 8.01 by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Description |
99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
* Filed herewith.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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FTC Solar, Inc. |
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Date: |
June 28,2021 |
By: |
/s/ Patrick M. Cook |
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Patrick M. Cook, |