SKYS - SKYS STOCK NEWS

Sky Solar Holdings, Ltd. (NASDAQ: SKYS) announced that the Cayman Islands court struck out a winding-up petition against the company, filed by Hudson Capital Solar Infrastructure GP, on October 6, 2020. Following this, the company's merger with Square Acquisition Co. is set to proceed, converting all outstanding ordinary shares into cash at $0.30 per share and $6.00 per ADS. Post-merger, the Offeror Group plans to delist the ADS from NASDAQ and terminate the company’s securities registration. As of December 31, 2019, Sky Solar operated 115.1 MW of solar parks globally.

Sky Solar Holdings, Ltd. (NASDAQ: SKYS) announced the conclusion of a tender offer by Square Acquisition Co., where the Company’s shareholders received $0.30 per Ordinary Share or $6.00 per ADS, following the offer's expiration on September 8, 2020. A merger is planned but is currently stalled due to a winding-up petition filed in the Cayman Islands. Despite the merger delay, SKYS ADSs have traded significantly above the offer price, peaking at $12.48 on September 25, 2020. Investors are advised to consider the ongoing legal issues before making investment decisions.

Sky Solar Holdings, Ltd. (NASDAQ: SKYS) confirmed the successful completion of a tender offer by Square Acquisition Co., which accepted validly tendered Ordinary Shares and ADSs at $0.30 and $6.00, respectively. However, the merger is pending due to ongoing Winding Up Proceedings in the Cayman Islands. Despite this, Sky Solar's ADSs traded significantly higher than the offer price, peaking at $12.48. The company operates solar parks globally, focusing on high-potential markets and generating revenue primarily from electricity sales.

Sky Solar Holdings, Ltd. (NASDAQ: SKYS) announced the expiration of Square Acquisition Co.'s tender offer for all its outstanding shares, which concluded on September 8, 2020. A total of approximately 18.1% of the shares were validly tendered. The merger, however, is pending due to a winding-up petition filed against Sky Solar in the Cayman Islands. If the merger proceeds, each ordinary share will be converted to US$0.30 and each ADS to US$6.00 in cash. The offeror group is monitoring the situation closely to effect the merger once conditions permit.

Sky Solar Holdings, Ltd. (NASDAQ: SKYS) announced a winding up petition filed against the company by Hudson Capital Solar Infrastructure GP, LP, on August 28, 2020. The company asserts that the petition is procedurally defective and related to a disputed debt currently in litigation in New York. Sky Solar is contesting these claims vigorously and maintains it is not insolvent. The company has 115.1 MW of solar parks under its operation, focusing on the downstream solar market across various geographic locations.

Sky Solar Holdings, Ltd. (NASDAQ: SKYS) announced the Cayman Islands Court lifted its previous asset freeze order against the company. This decision allows Sky Solar to proceed with its financial activities. Additionally, the company has filed a complaint in New York against Hudson Solar Cayman, LP, contesting alleged default claims and seeking damages under the Note Purchase Agreement. Sky Solar is a global developer of solar parks, owning and operating 115.1 MW of solar assets as of December 31, 2019. The company aims to expand its operations in lucrative solar markets worldwide.

Sky Solar Holdings, Ltd. (NASDAQ: SKYS) announced on August 3, 2020, that the Cayman Islands Court issued an order freezing the assets of its subsidiary, Sky Solar Power, Ltd. The court appointed three receivers to oversee the subsidiary's management and protect its asset value following a legal dispute with Hudson Solar. This order restricts the company from taking actions regarding a term loan facility linked to an unsolicited tender offer. Sky Solar is contesting Hudson's claims and plans to seek a hearing to discharge the order.

Sky Solar Holdings (NASDAQ: SKYS) announced via a Schedule 14D-9 filing that its Special Committee cannot currently take a position on an acquisition offer launched by Square Acquisition Co. on July 6, 2020, for all outstanding ordinary shares. The company urges shareholders to review the Schedule 14D-9 for crucial information. Sky Solar operates solar parks globally, focusing on revenue through electricity sales and holds 115.1 MW of solar parks as of December 31, 2019. The firm is exploring strategic options to enhance shareholder value amidst potential regulatory changes.

Sky Solar Holdings (NASDAQ: SKYS) has filed an opposition against Hudson Solar Cayman in the Supreme Court of New York regarding claims related to a Note Purchase Agreement from July 15, 2016. This follows Hudson's May 2020 action seeking summary judgment against Sky Solar. The company denies all claims, asserting that Hudson did not act in good faith as stipulated in a previous Settlement Agreement from November 2019. Sky Solar is committed to defending itself vigorously to minimize business disruptions.