Latest news with #SprucePowerHoldingCorporation
Business Wire
10 hours ago
- Business
- Business Wire
Spruce Power Announces Results from 2025 Annual Meeting of Stockholders and Election of Directors
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) ('Spruce' or the 'Company'), a leading owner and operator of distributed solar energy assets across the United States, announced today that all proposals at the Annual Meeting of Stockholders held on June 24, 2025 were duly adopted by shareholders. Spruce also confirmed that following the conclusion of the Company's Annual Meeting of Stockholders, Kevin Griffin retired as an independent director and Shawn Kravetz was elected as an independent director of its Board of Directors (the 'Board'). "On behalf of the Board, we would like to thank our shareholders for their continued support,' said Chris Hayes, Chief Executive Officer of Spruce. 'Further, we want to express our appreciation to Kevin Griffin for his many valuable contributions as a member of our Board. Finally, we are pleased to welcome Shawn Kravetz to the Board. Shawn brings a wealth of business acumen including extensive experience in strategy consulting, as a micro-cap investor, and as a public company board member that will enhance our Board's skill set." Results from Annual Meeting of Stockholders 2025 Annual Meeting of Stockholders proposals, all of which were recommended by the Board, were duly adopted by Company shareholders: Election of Chris Hayes, Clara Nagy McBane and Shawn Kravetz to the Board of Directors; The advisory resolution on executive compensation; and The ratification of independent auditors. Changes to Board of Directors Kevin Griffin retired as an independent director of Spruce's Board. Shawn Kravetz was elected as a new independent member of the Board. Spruce's Board of Directors remains at seven members. Kravetz is President and Chief Investment Officer of Esplanade Capital LLC, an investment management company that utilizes a value-orientation and specializes in investing in smaller, out of favor and below the radar companies, special situations and turnarounds. Prior to founding Esplanade, Kravetz was a corporate executive and strategic advisor. He served as Principal at The Parthenon Group, a leading strategy consulting boutique, and Director of Strategic Planning and Corporate Development at The CML Group. Kravetz was also a member of the board of directors at Nevada Gold & Casinos, where he was chairman of the corporate governance and nominating committee. About Spruce Power Spruce Power Holding Corporation (NYSE: SPRU) is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners to benefit from rooftop solar power and battery storage. Our power as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company owns the cash flows from approximately 85,000 home solar assets and contracts across the United States. For additional information, please visit Forward Looking Statements Certain statements in this press release may constitute 'forward-looking statements' within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and rules promulgated thereunder. Forward-looking statements generally are characterized by the use of certain words or phrases (and their derivatives) such as 'believe,' 'continue,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,' 'goals,' 'predict,' 'potential,' 'seem,' 'seek,' 'future,' 'outlook,' and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include statements regarding the Company's strategic priorities and financial outlook including the Company's prospects for long-term growth in revenues, cash flows and earnings. These statements are based on our current plans and strategies, as well as various assumptions, whether or not identified in this press release, and on the current expectations of management, all of which management believes are reasonable as of the date of this report, and reflect our current assessment of the risks and uncertainties related to the Company's business and are made as of the date of this press release, as well as the other risks discussed under the heading 'Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 31, 2025, subsequent Quarterly Reports on Form 10-Q and other documents that the Company files with the SEC in the future. These factors are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can the Company assess the impact of all such risk factors on its business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Business Wire
10-06-2025
- Business
- Business Wire
Spruce Power Announces Appointment of Interim Chief Financial Officer
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) ('Spruce' or the 'Company') is pleased to announce the appointment of Thomas Cimino as Interim Chief Financial Officer ('CFO'), effective June 5, 2025. This announcement follows the transition of former Chief Financial Officer Sarah Wells who departed Spruce to pursue a private company opportunity. Spruce is undertaking a search to fill the CFO position on a permanent basis. "With significant experience as a senior-level finance executive, Thomas is adept at navigating complex business environments with a strong focus on operational efficiencies and executing growth strategies," said Chris Hayes, Chief Executive Officer of Spruce. "I am confident that his extensive financial expertise makes him the right choice to guide us during this transition, while we continue to execute on our strategic priorities.' Cimino has over 25 years of experience in financial reporting, internal controls, budget and planning, capital markets and business strategy. His past experiences include serving as Chief Financial Officer at Vantage Drilling International and AEI Services and Executive Vice President of Finance and Administration for EnfraGen. Earlier in his career, he worked at the U.S. Securities and Exchange Commission, was a Director in PricewaterhouseCoopers Global Capital Markets Group and began in public accounting with KPMG. Cimino earned a Bachelor of Science in Accounting at Penn State University and a Master of Business Administration from Rice University. About Spruce Power Spruce Power Holding Corporation (NYSE: SPRU) is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners to benefit from rooftop solar power and battery storage. Our power as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company owns the cash flows from approximately 85,000 home solar assets and contracts across the United States. For additional information, please visit Forward Looking Statements Certain statements in this press release may constitute 'forward-looking statements' within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and rules promulgated thereunder. Forward-looking statements generally are characterized by the use of certain words or phrases (and their derivatives) such as 'believe,' 'continue,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,' 'goals,' 'predict,' 'potential,' 'seem,' 'seek,' 'future,' 'outlook,' and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include statements regarding the Company's strategic priorities and financial outlook including the Company's prospects for long-term growth in revenues, cash flows and earnings. These statements are based on our current plans and strategies, as well as various assumptions, whether or not identified in this press release, and on the current expectations of management, all of which management believes are reasonable as of the date of this report, and reflect our current assessment of the risks and uncertainties related to the Company's business and are made as of the date of this press release. Although we believe that our expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of our existing knowledge about the Company's business and operations, there can be no assurance that actual future results, performance or achievements of, or trends affecting, us will not differ materially from any future results, performance, achievements or trends expressed or implied by such forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by forward-looking statements, including but not limited to: expectations regarding the growth of the solar industry and home electrification; uncertainties relating to the solar energy industry; the ability to identify and complete strategic acquisitions or strategic relationships; our ability to successfully integrate acquisitions; the ability to develop and market new products and services; the effects of pending and future legislation; the highly competitive nature of the Company's business and markets; the ability to execute on and consummate business plans in anticipated time frames; litigation, complaints, product liability claims, government investigations and/or adverse publicity; cost increases or shortages in the materials necessary to support the Company's products and services; the introduction of new technologies; the impact of natural disasters and other events beyond our control, such as hurricanes, wildfires or pandemics, on the Company's business, results of operations, financial condition, regulatory compliance and customer experience; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; risks related to the rollout of the Company's business and the timing of expected business milestones; the effects of competition on the Company's future business; the availability of capital, including the availability and cost of borrowings; and the other risks discussed under the heading 'Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 31, 2025, subsequent Quarterly Reports on Form 10-Q and other documents that the Company files with the SEC in the future. These factors are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can the Company assess the impact of all such risk factors on its business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Yahoo
10-06-2025
- Business
- Yahoo
Spruce Power Announces Appointment of Interim Chief Financial Officer
DENVER, June 10, 2025--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) ("Spruce" or the "Company") is pleased to announce the appointment of Thomas Cimino as Interim Chief Financial Officer ("CFO"), effective June 5, 2025. This announcement follows the transition of former Chief Financial Officer Sarah Wells who departed Spruce to pursue a private company opportunity. Spruce is undertaking a search to fill the CFO position on a permanent basis. "With significant experience as a senior-level finance executive, Thomas is adept at navigating complex business environments with a strong focus on operational efficiencies and executing growth strategies," said Chris Hayes, Chief Executive Officer of Spruce. "I am confident that his extensive financial expertise makes him the right choice to guide us during this transition, while we continue to execute on our strategic priorities." Cimino has over 25 years of experience in financial reporting, internal controls, budget and planning, capital markets and business strategy. His past experiences include serving as Chief Financial Officer at Vantage Drilling International and AEI Services and Executive Vice President of Finance and Administration for EnfraGen. Earlier in his career, he worked at the U.S. Securities and Exchange Commission, was a Director in PricewaterhouseCoopers Global Capital Markets Group and began in public accounting with KPMG. Cimino earned a Bachelor of Science in Accounting at Penn State University and a Master of Business Administration from Rice University. About Spruce Power Spruce Power Holding Corporation (NYSE: SPRU) is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners to benefit from rooftop solar power and battery storage. Our power as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company owns the cash flows from approximately 85,000 home solar assets and contracts across the United States. For additional information, please visit Forward Looking Statements Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and rules promulgated thereunder. Forward-looking statements generally are characterized by the use of certain words or phrases (and their derivatives) such as "believe," "continue," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "goals," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include statements regarding the Company's strategic priorities and financial outlook including the Company's prospects for long-term growth in revenues, cash flows and earnings. These statements are based on our current plans and strategies, as well as various assumptions, whether or not identified in this press release, and on the current expectations of management, all of which management believes are reasonable as of the date of this report, and reflect our current assessment of the risks and uncertainties related to the Company's business and are made as of the date of this press release. Although we believe that our expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of our existing knowledge about the Company's business and operations, there can be no assurance that actual future results, performance or achievements of, or trends affecting, us will not differ materially from any future results, performance, achievements or trends expressed or implied by such forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by forward-looking statements, including but not limited to: expectations regarding the growth of the solar industry and home electrification; uncertainties relating to the solar energy industry; the ability to identify and complete strategic acquisitions or strategic relationships; our ability to successfully integrate acquisitions; the ability to develop and market new products and services; the effects of pending and future legislation; the highly competitive nature of the Company's business and markets; the ability to execute on and consummate business plans in anticipated time frames; litigation, complaints, product liability claims, government investigations and/or adverse publicity; cost increases or shortages in the materials necessary to support the Company's products and services; the introduction of new technologies; the impact of natural disasters and other events beyond our control, such as hurricanes, wildfires or pandemics, on the Company's business, results of operations, financial condition, regulatory compliance and customer experience; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; risks related to the rollout of the Company's business and the timing of expected business milestones; the effects of competition on the Company's future business; the availability of capital, including the availability and cost of borrowings; and the other risks discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 31, 2025, subsequent Quarterly Reports on Form 10-Q and other documents that the Company files with the SEC in the future. These factors are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can the Company assess the impact of all such risk factors on its business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. View source version on Contacts Investor Contact: investors@ Media Contact: publicrelations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
14-05-2025
- Business
- Business Wire
Spruce Power Announces $50 Million Share Repurchase Program
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) ('Spruce') today announced that its board of directors has authorized a share repurchase program (the "Share Repurchase Program") to repurchase up to $50 million of Spruce's common stock on or before May 15, 2027, beginning upon the expiry of its current share repurchase program on May 15, 2025. The Board believes that the authorization of the Share Repurchase Program will enable Spruce to opportunistically return value to shareholders. The Share Repurchase Program authorizes Spruce to effect repurchases through open market transactions, privately negotiated transactions, Rule 10b5-1 trading plans and/or Rule 10b-18 trading plans, and other means. Spruce is not obligated to repurchase any specific number of shares or dollar amount and may discontinue the Share Repurchase Program at any time. The timing, number, and purchase price of share repurchases, if any, will be determined by Spruce's management in its discretion and will depend on a number of factors, including the market price of the shares, general market and economic conditions, and other alternatives available to Spruce. Under Spruce's previous share repurchase program, which commenced on May 15, 2023, through May 12, 2025, Spruce repurchased an aggregate of 1,870,827, shares at a weighted average price of approximately $4.33 per share, inclusive of transaction costs. About Spruce Power Spruce Power Holding Corporation (NYSE: SPRU) is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners to benefit from rooftop solar power and battery storage. Our power as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company owns the cash flows from approximately 85,000 home solar assets and contracts across the United States. For additional information, please visit Forward Looking Statements This press release includes 'forward-looking statements' within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and rules promulgated thereunder, including, without limitation, statements about future stock repurchases. Forward-looking statements generally are characterized by the use of certain words or phrases (and their derivatives) such as 'anticipate,' 'believe,' 'could,' 'expect,' 'intend,' 'may,' 'opportunity,' 'plan,' 'goals,' 'target,' 'predict,' 'potential,' 'estimate,' 'should,' 'will,' 'would,' 'continue,' 'likely,' and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates, and uncertainties that are difficult to predict and are subject to change based on various factors, some of which are beyond Spruce's control. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements as a result of various risks, uncertainties, and other factors. For a discussion of some of the risks and important factors that could affect our future results and financial condition, see our U.S. Securities and Exchange Commission filings, including, but not limited to, our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. These forward-looking statements speak only as of the date hereof and Spruce undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. Investors are cautioned not to rely too heavily on any forward-looking statements, and investors are urged to consider all risks, uncertainties and other factors in evaluating any forward-looking statement made by Spruce.
Business Wire
05-05-2025
- Business
- Business Wire
Spruce Power to Release First Quarter 2025 Results and Host Conference Call on May 14
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) ('Spruce'), a leading owner and operator of distributed solar energy assets across the United States, today announced that it will report first quarter 2025 financial results after the stock market close on Wednesday, May 14. Spruce will issue a press release reporting its results, which will be available on the Investor Relations section of its website at Management will then host a conference call and webcast for investors and analysts at 2:30 P.M. MDT to discuss the results. Spruce Power First Quarter 2025 Webcast and Conference Call Details A replay of the conference call can be accessed by dialing 800-770-2030 and referencing conference ID 3699222. The replay will be available until May 28, 2025. About Spruce Power Spruce Power Holding Corporation and its subsidiaries ('Spruce Power') (NYSE: SPRU) is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners to benefit from rooftop solar power and battery storage. Our power as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company owns the cash flows from approximately 85,000 home solar assets and contracts across the United States. For additional information, please visit
