Sunedison Inc. (fka SUNEQ)

[FEED_THE_FOXES]

Strike 2 1/2. Stalking Horse bid number three received no bids at auction (Docket #1406). No premiums. No bonuses. The solar materials business in its entirety will be sold at the original price of $150MM with $50MM subject to meeting post closing benchmarks (i.e. ALL SOLAR patents, technology and manufacturing is going out the door). To date, the four Stalking Horse bids have attracted less than $500MM in bids. The Stalking Horse India deal is still in process. The only card SUNE has left to play are the yieldcos. They will get packaged under a restructuring with new stock because the DIP lenders can't sell the shares directly. Look for a big hit to the yieldcos share prices.