Spruce

Spruce Power Announces Resolution of SEC Inquiry of XL Fleet

Retrieved on: 
Friday, September 29, 2023
Utilities, Construction & Property, Batteries, Alternative Energy, Energy, Building Systems, Technology, Residential Building & Real Estate, Spruce, NYSE, Cryptocurrency

Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, announces that it has settled a civil enforcement action filed by the United States Securities and Exchange Commission (“SEC”) related to the 2020 merger of Spruce’s predecessor company, XL Fleet Corp.

Key Points: 
  • Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, announces that it has settled a civil enforcement action filed by the United States Securities and Exchange Commission (“SEC”) related to the 2020 merger of Spruce’s predecessor company, XL Fleet Corp.
  • In the settlement, Spruce will pay an $11 million civil penalty, which amount may be made available for eligible legacy shareholders to receive funds, net of costs, subject to discretion of the SEC.
  • This conclusion allows Spruce to turn the page on a legacy XL Fleet issue and focus on growing its distributed energy business.
  • Having these matters resolved will better allow Spruce to look forward,” said Chief Legal Officer Jonathan Norling.

Spruce Power Announces Relocation of Corporate Headquarters in Denver, Colorado

Retrieved on: 
Monday, September 18, 2023
Technology, Construction & Property, Other Energy, Utilities, Building Systems, Alternative Energy, Energy, Batteries, Residential Building & Real Estate, LEED, Denver Technological Center, Gold, History Colorado Center, Solar energy, Growth, NYSE, Mile High, Spruce

Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced the relocation of its Denver headquarters to the Colorado Center, a premier location in southeast Denver.

Key Points: 
  • Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced the relocation of its Denver headquarters to the Colorado Center, a premier location in southeast Denver.
  • Spruce’s new Denver headquarters expands the Company’s footprint in a key renewable energy market, allowing access to a dynamic ecosystem of collaboration, partnerships, and top industry talent.
  • While expected to house a diverse array of roles, the new headquarters prominently features Spruce's corporate development efforts, providing its growing team a central hub to collaborate on the Company’s growth strategy.
  • The relocation reinforces Spruce’s commitment to the Denver market and Colorado’s Front Range, where the Company plans to expand its number of high-quality jobs to 20 by the end of 2024.

Spruce Power Acquires Portfolio of 2,400 Residential Solar Systems and Contracts

Retrieved on: 
Monday, August 21, 2023
Other Energy, Environment, Utilities, Alternative Energy, Green Technology, Energy, Growth, Spruce, Acquisition, NYSE

Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced the acquisition of a portfolio of over 2,400 residential solar systems and contracts from a publicly traded, regulated utility company for $20.9 million.

Key Points: 
  • Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced the acquisition of a portfolio of over 2,400 residential solar systems and contracts from a publicly traded, regulated utility company for $20.9 million.
  • The acquired portfolio consists of residential solar systems located in California, New Jersey, and Massachusetts, with an average remaining contract life of nearly 11 years.
  • Prior to the acquisition, Spruce was the third-party services solution provider for the portfolio, which allows for efficient, low-cost integration into Spruce’s existing portfolio of home solar assets and contracts.
  • Spruce funded the acquisition purchase price entirely through proceeds from the concurrent upsizing of its Spruce Power 2 credit facility (the “SP2 Facility”).

Spruce Power Announces Relief Plan for Maui Customers

Retrieved on: 
Monday, August 14, 2023
Other Energy, Natural Disasters, Utilities, Environment, Alternative Energy, Energy, Environmental Issues, Climate Change, NYSE, Silviculture, Spruce

Spruce stands with its customers and will waive its billing for all customers within the impacted communities for the next 3 months.

Key Points: 
  • Spruce stands with its customers and will waive its billing for all customers within the impacted communities for the next 3 months.
  • This relief is intended to provide immediate support to customers and their community, whether or not their system is known to be damaged or lost.
  • Additionally, Spruce has committed a direct cash donation to any Spruce customer who lost a home power system in the fire.
  • As Maui comes together to recover and rebuild, Spruce stands with its customers.

Spruce Biosciences Reports Second Quarter 2023 Financial Results and Provides Corporate Updates

Retrieved on: 
Monday, August 14, 2023
Health, Clinical Trials, Research, Pharmaceutical, Science, Biotechnology, Columbia University, PD, Senior, Investment, Cohort, DHEAS, CAH, Clinical trial, Infection, Spruce, Pharmacokinetics, Public, Woman, G&A, Polycystic ovary syndrome, POWER, Public expenditure, Public health, Adrenal insufficiency, A4, Polycystic disease, Patient, PCOS, Administration, Adolescence, Androstenedione, Financial toxicity, Regulatory affairs, Research and development, Regulation, R, FDA, Safety, Dehydroepiandrosterone sulfate, Pharmaceutical industry, Nursing, Cryptocurrency, Adult, Quality

(Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today reported financial results for the second quarter ended June 30, 2023 and provided corporate updates.

Key Points: 
  • (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today reported financial results for the second quarter ended June 30, 2023 and provided corporate updates.
  • In our CAHmelia program in adult classic CAH, we’ve surpassed 75% enrollment in the CAHmelia-203 study and are approaching 75% enrollment in the CAHmelia-204 study.
  • Cohort 2 in our CAHptain study for pediatric classic CAH is nearly fully enrolled, with screening in cohort 3 currently underway.
  • Cash, Cash Equivalents and Investments: Cash, cash equivalents and investments as of June 30, 2023 were $120.5 million.

Spruce Power Announces Record Net Income in Second Quarter 2023 Earnings Results

Retrieved on: 
Thursday, August 10, 2023
Alternative Energy, Energy, Event, Share repurchase, Services General Administration and Coordination Department, Government of Sindh, Telephone, Spruce, Wind, LOI, New York Stock Exchange, EBITDA, Acquisition, Spruce Finance, Depreciation, Growth, Security (finance), PPA, Hand, Conference, NYSE, Cryptocurrency, Holding company, Commercial property, Bank

Revenues totaled $22.8 million for the second quarter of 2023, compared to $18.1 million for the first quarter of 2023.

Key Points: 
  • Revenues totaled $22.8 million for the second quarter of 2023, compared to $18.1 million for the first quarter of 2023.
  • Net income attributable to stockholders was $3.1 million for the second quarter of 2023, compared to a net loss attributable to stockholders of $19.4 million for the first quarter of 2023.
  • Adjusted EBITDA and proceeds from investment in lease agreement, in the aggregate, was $13.8 million for the second quarter of 2023, compared to $5.7 million for the first quarter of 2023.
  • The Spruce management team will host a conference call to discuss its second quarter 2023 financial results today at 2:30 p.m. Mountain Time.

ECI Software Solutions Introduces Spruce eCommerce for Dealers in the Lumber and Building Materials Industry

Retrieved on: 
Thursday, July 20, 2023
Maintenance, Senior, Housing, LBM, Google Analytics, E-commerce, ECI, Karl Angelo Maiuri, PIM, Product information management, The Bahamas, Online shopping, Spruce

FORT WORTH, Texas, July 20, 2023 /PRNewswire-PRWeb/ -- ECI Software Solutions, a global provider of cloud-based business management software and services, today announced the launch of Spruce eCommerce, an innovative ecommerce solution purpose-built for the unique needs of lumber and building materials (LBM) and hardlines businesses.

Key Points: 
  • Integrating with industry-leading Spruce ERP software, the new ecommerce solution combines professional website design with an innovative customer portal to simplify online shopping
    FORT WORTH, Texas, July 20, 2023 /PRNewswire-PRWeb/ -- ECI Software Solutions , a global provider of cloud-based business management software and services, today announced the launch of Spruce eCommerce, an innovative ecommerce solution purpose-built for the unique needs of lumber and building materials (LBM) and hardlines businesses.
  • "Not only does it improve the customer experience, but Spruce eCommerce also streamlines the business management aspects for dealers.
  • Spruce eCommerce also includes a Spruce-proprietary Product Information Management (PIM) system and pre-built taxonomy for implementing the software faster, seamlessly adding products to the ecommerce storefront and housing content customers need to make informed buying decisions.
  • Visit the Spruce eCommerce product page to learn more.

Spruce Technology CEO, Srini Penumella, Honored with the Esteemed Entrepreneur Of The Year® 2023 New Jersey Program Award

Retrieved on: 
Tuesday, June 13, 2023
Culture, Michael Tobin (entrepreneur), Spruce, Side platform, Trust, Growth, Out of the Everywhere and Other Extraordinary Visions, Management

CLIFTON, N.J., June 13, 2023 /PRNewswire/ -- Spruce Technology, a leading information technology company, is thrilled to announce that its CEO, Srini Penumella, has been named the winner of the prestigious Entrepreneur Of The Year® 2023 New Jersey program award.

Key Points: 
  • CLIFTON, N.J., June 13, 2023 /PRNewswire/ -- Spruce Technology, a leading information technology company, is thrilled to announce that its CEO, Srini Penumella, has been named the winner of the prestigious Entrepreneur Of The Year® 2023 New Jersey program award.
  • Under his visionary leadership, Spruce Technology has achieved remarkable growth and success, solidifying its position as a trailblazer in the information technology industry.
  • "I am deeply honored and humbled to receive this prestigious award," said Srini Penumella, CEO of Spruce Technology."
  • As the recipient of the Entrepreneur Of The Year® 2023 New Jersey program award, Srini Penumella will now join a distinguished group of entrepreneurs from across the country, competing for the Entrepreneur Of The Year® National Award.

Lifestyle Service Tech Company Spruce Expands Into Boston

Retrieved on: 
Thursday, June 8, 2023
DoorDash, Research, Uber Eats, National Directorate of Intelligence and Prevention Services, Housekeeping, Weather, Silviculture, Spruce, Greater Boston

AUSTIN, Texas, June 8, 2023 /PRNewswire/ -- Spruce , the national leader in lifestyle services for the multifamily industry, has now officially launched operations in Boston, Massachusetts as part of its ongoing cross country expansion to service apartment communities.

Key Points: 
  • AUSTIN, Texas, June 8, 2023 /PRNewswire/ -- Spruce , the national leader in lifestyle services for the multifamily industry, has now officially launched operations in Boston, Massachusetts as part of its ongoing cross country expansion to service apartment communities.
  • This launch will provide access to Spruce's Housekeeping and Chores to 42 new communities and over 11,800 apartment homes in the Greater Boston area.
  • Customers can download the Spruce App and start booking today to receive services from June 20th onward.
  • Recent research from the lifestyle services provider showed that 55% of Spruce customers consider a home cleaning service to be a "must-have" convenience.

Spruce Biosciences Appoints Percival Barretto-Ko to Board of Directors

Retrieved on: 
Thursday, May 25, 2023
Biotechnology, Health, Genetics, Pharmaceutical, Clinical Trials, Yale University, Poverty, MIT Sloan School of Management, Board for Industrial and Financial Reconstruction, Roche, CAH, Congenital adrenal hyperplasia, Sloan Fellows, Innovation, Polycystic ovary syndrome, Astellas Pharma, Patient, Chemistry, Therapy, Cornell University, Pharmaceutical industry, Management, AmeriCares, Spruce

(Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today announced the appointment of Percival Barretto-Ko to the company’s Board of Directors.

Key Points: 
  • (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today announced the appointment of Percival Barretto-Ko to the company’s Board of Directors.
  • Concurrently, Dina Chaya, Ph.D., has stepped down from the Board of Directors.
  • “On behalf of Spruce, I am pleased to welcome Percival Barretto-Ko to our Board of Directors,” said Mike Grey, Executive Chairman of Spruce Biosciences.
  • Prior to joining Astellas, Mr. Barretto-Ko served in increasingly senior roles at Roche UK and US from 2001 to 2005.