Never heard of SunEdison(SUNE)? Perhaps you know it better by its old name, MEMC Electronic Materials. The name was only the first thing to change in the company’s ongoing evolution. In August, the company announced plans to spin off its semiconductor business, which had been its initial core business. The company plans to conduct an IPO for a minority stake in the business in early 2014 and retain the reminder for the time being. An S-1 was filed in September, with a more recent amendment this month. The company plans to use the parent’s old ticker, WFR.
More recently, the company said it may spin off some of the solar farms that it develops, rather than sell them. There’s not a lot to go on here as to what the company will actually end up doing or whether there will ever be a distribution to shareholders of any of these new companies.
Disclosure: The author holds no position in any stock mentioned
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