Spruce Power acquires 9,800 residential solar systems for $132.5M, funded with cash and new $109.8M debt facility

SPRUCE POWER HOLDING CORP

Acquisition adds ~13% to total home solar assets and contracts, bringing total to ~85,000.
Purchase price funded with $22.7M cash and proceeds from a $109.8M non-recourse credit facility from Santander.
Portfolio expected to generate ~$7.0M levered cash flows in 12 months ending Sep 2025; ~$22.0M cumulative in FY2025-2027.
Average remaining contract life over 11 years; Spruce receives customer payments and renewable energy credits effective Oct 1, 2024.
Transaction solidifies Spruce as leading residential solar provider in New Jersey with ~16,000 customers in-state.

item 2.03 item 2.01 item 1.01 item 7.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.