TerraForm Global Inc (NASDAQ:GLBL) reported that it has exercised its right to change the termination date under the Plan of Merger and deal finalized on March 6, 2017 with certain associates of Brookfield Asset Management Inc. to March 6, 2018 from December 6, 2017.
However, the completion of the deal is currently expected to occur by December 29, 2017 on the terms initially approved by the firm’s stockholders at the special meeting convened on November 13, 2017. TerraForm Global marks as a renewable energy firm that enhances value for its shareholders by owning and managing clean energy power crops in high-growth emerging markets. The market cap of firm stands at $858.8 million.
Bethesda, Maryland based TerraForm Global’s stock closed the day 2.02% in green at $5.05 with a total trading volume of 4,65 million. The firm’s stock has surged over 20% on an YTD basis. It is trading around 2% below its 50 DMA. On November 8, 2017, the company posted its financial report for the quarter closed September 30, 2017. Revenue for Q3 2017 came at $67 million, net loss stood at $(37) million, cash available for distribution came at $(3) million while adjusted EBITDA was $47 million. Unrestricted cash at the close of quarter stood at $632 million.
More recently, in keeping with the commitment to vigorously offer members with timely update, WallStEquities.com has released free tailored Stock Review on TERP, GLBL, PEGI and FCEL, which is just click away at its website.
All the four stocks, including FuelCell Energy Inc (NASDAQ:FCEL), TerraForm, Pattern Energy Group Inc (NASDAQ:PEGI) and TerraForm Power Inc (NASDAQ:TERP) are part of the buzzing Diversified Utilities industry, which comprises of firms that offer businesses and consumers with natural gas, water and electricity. Most of these companies are government-approved monopolies. They run without competition in their key service areas.