IEA - IEA STOCK NEWS

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) announced it will release its third quarter financial results for the period ending September 30, 2021, after market close on November 8, 2021. A conference call to discuss these results is scheduled for November 9 at 11:00 AM ET. Investors can participate by calling specified numbers or through the company’s website. IEA is a major player in the renewable energy sector, having completed over 240 utility-scale wind and solar projects across North America, showcasing its expertise in infrastructure construction.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) announced its participation in the D.A. Davidson 20th Annual Diversified Industrials and Services Conference on September 22-23, 2021. CEO JP Roehm and CFO Peter Moerbeek will present virtually on September 22 at 1:15 p.m. ET, followed by investor meetings. A live webcast will be accessible on the company’s investor relations website, with a replay available post-event. IEA is a leading infrastructure construction company specializing in renewable energy and completed over 240 utility scale wind and solar projects across North America.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) has priced a $300.0 million offering of 6.625% senior notes due 2029. Priced at $98.485 per $100 principal amount, the offering will assist in repaying outstanding term loans and redeeming Series B Preferred Stock. The closing is expected on August 17, 2021, pending customary conditions. The notes will not be registered under the Securities Act and are targeting qualified institutional buyers and non-U.S. persons.

Infrastructure and Energy Alternatives, Inc. (IEA) has successfully closed its underwritten public offering, issuing 10,547,866 shares and pre-funded warrants for an additional 7,747,589 shares. Priced at $11.00 per common share and $10.9999 per warrant, the offering generated net proceeds of approximately $196.3 million. These funds will be allocated to repurchase and redeem a portion of its outstanding Series B Preferred Stock. The offering was managed by Guggenheim Securities, LLC, among other underwriters.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) announced its intention to offer $300 million in senior notes due 2029 to refinance existing debt and redeem Series B Preferred Stock. The notes will be guaranteed by IEA and certain subsidiaries and will be sold only to qualified institutional buyers and non-U.S. persons. This offering aims to improve the company’s financial structure and liquidity. The offering is subject to market conditions and will not be registered under the Securities Act, meaning it will be offered privately.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) has announced an underwritten public offering of common stock priced at $11.00 per share and pre-funded warrants priced at $10.9999. The offering includes 8,161,502 shares and 7,747,589 pre-funded warrants, which may help ASOF Holdings I, L.P. acquire over 37.8% ownership of IEA post-offering. Gross proceeds are estimated at $175 million, which will be used primarily to repurchase Series B Preferred Stock. The offering is set to close on August 2, 2021, pending customary conditions.

Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) announced its intention to conduct an underwritten public offering of common stock and pre-funded warrants. IEA plans to grant underwriters a 30-day option for an additional 15% of shares. The offering's completion is subject to market conditions. The net proceeds will be utilized to redeem part of its outstanding Series B Preferred Stock and cover the redemption premium. Guggenheim Securities is the book-running manager for this offering.

Infrastructure and Energy Alternatives has announced a Transaction Agreement with Ares Special Situations Fund IV and ASOF Holdings. Ares Parties will convert Series A Preferred Stock into approximately 2.1 million common shares and exercise warrants for around 6 million shares at $0.0001 each. IEA will also redeem all Series B Preferred Stock. The agreement includes a stockholders' agreement that may allow Ares to designate up to two board members, contingent on their ownership. Additionally, a registration rights agreement amendment will be established to facilitate the resale of shares acquired by Ares.

Infrastructure and Energy Alternatives, Inc. (IEA) reported record revenue of $560.1 million for Q2 2021, up from $480.6 million in Q2 2020. The backlog rose to a historic $2.8 billion, with an expected $1.8 billion to be realized in the next year. Net income reached $4.7 million or $0.12 per diluted share, compared to $3.6 million or $0.09 last year. Adjusted EBITDA was $35.7 million, down from $39.3 million. The company reaffirmed its full-year guidance, projecting revenue between $1.80 billion and $1.95 billion.