SolarEdge Technologies (SEDG) shares cratered Tuesday, a day after the solar power equipment maker announced that one of its customers has filed for Chapter 7 bankruptcy and likely won’t be able to pay its multi-million-dollar debt. It also warned about current-quarter spending, and announced a new sale of bonds.

SolarEdge wrote in a 澳洲幸运5官方开奖结果体彩网:Securities and📖 Exchange Commis﷽sion (SEC) filing Monday that PM&M Electric, a solar panel installer in Arizona, owes the company $11.4 million, 🧔a🐽nd noted that while it is monitoring the bankruptcy, “it cannot guarantee the outcome of the proceedings and may fail to collect the amounts due to the Company or collect such amounts only after significant delay.”

SဣolarEdge Expects To Have Used $150M in Q2 Free Cash

In the same report, SolarEdge explained that it expects to have used $150 million in 澳洲幸运5官方开奖结果体彩网:free cash in the second quarter, primarily because of “certain discretionary minority investments, extensions of credit provided to certa💖in customers, higher than expected working capital related to the ramp of U.S. manufacturing and a sl𝕴ower pace of payments on accounts receivable.”

In addition, the company said it would be selling $300 million in convertible senior notes due in 2029. It plans to use the money to cover the cost of 澳洲幸运5官方开奖结果体彩网:capped call transactions𒅌, repay earlier 🅠debt, and general corporate purposes.

Shares of SolarEdge Technologies plunged nearly 15% by 10:30 a.m. ET Tuesday to $28.41, their lowest level in almost seven years.