SUNGEVITY INC: Case Summary & 20 Largest Unsecured Creditors

Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

Debtor: Sungevity, Inc. / Case No. 17-10561
Sungevity SD, LLC / Case No. 17-10562
Sungevity Development, LLC / Case No. 17-10563
Sungevity International Holdings, LLC Case No. 17-10564

About the Company: Sungevity — http://www.sungevity.com — is a technology company whose platform enables the sale and installation of solar energy systems to residential and commercial customers in the United States and internationally. Sungevity serves customers in 14 U.S. states and the District of Columbia, as well as in the Netherlands, Belgium, Germany and the United Kingdom. The Company’s asset-light business model focuses on value-added in- house services for software platform development, project management and customer experience; this focus is enabled by a strong, scalable network of third-party providers for asset-intensive and/or lower margin provision of hardware, installation services and financing.

Chapter 11 Petition Date: March 13, 2017
Court: United States Bankruptcy Court District of Delaware (Delaware)
Judge: Hon. Judge Kevin Gross

Debtors’ Bankruptcy Counsel:
Jonathan I. Levine, Esq.
Jennifer L. Marines, Esq.
Melissa A. Hager, Esq.
Erica J. Richards, Esq.
MORRISON & FOERSTER LLP
250 West 55th Street
New York, New York 10019

Debtors’ Local Counsel:
M. Blake Cleary, Esq.
Jaime Luton Chapman, Esq.
Kenneth A. Listwak, Esq.
YOUNG CONAWAY STARGATT & TAYLOR, LLP
Rodney Square
1000 North King Street
Wilmington, Delaware 19801

Debtors’ Financial Advisor: ALIXPARTNERS, LLC

Debtors’ Investment Banker: DUCERA SECURITIES LLC

Debtors’ Claims & Noticing Agent: KURTZMAN CARSON CONSULTANTS LLC

Estimated Assets: $100 million to $500 million
Estimated Debts: $100 million to $500 million

The petition were signed by Andrew Birch, chief executive officer.

Debtors’ Consolidated List of 20 Largest Unsecured Creditors:

Entity: Eastern Sun Capital Partners, LLC
Nature of Claim: Convertible Notes
Claim Amount: $4,450,000

Entity: Trina Solar (U.S.) Inc.
Nature of Claim: Trade Payables
Claim Amount: $4,200,924

Entity: SolarEdge Technologies, Inc.
Nature of Claim: Trade Payables
Claim Amount: $2,873,762

Entity: Mario Palumbo
Nature of Claim: Convertible Notes
Claim Amount: $2,100,000

Entity: Orrick, Harrington & Sutcliffe LLP
Nature of Claim: Trade Payables
Claim Amount: $1,851,432

Entity: CCM Solar, LLC
Nature of Claim: Convertible Notes
Claim Amount: $1,500,000

Entity: Lowe’s Companies, Inc.
Nature of Claim: Trade Payables
Claim Amount: $1,028,475

Entity: SharesPost 100 Fund
Nature of Claim: Convertible Notes
Claim Amount: $1,000,000

Entity: Stephen R. Polk Rev TR
Nature of Claim: Convertible Notes
Claim Amount: $1,000,000

Entity: Dinwoodie Meservey Family Trust
Nature of Claim: Convertible Notes
Claim Amount: $1,000,000

Entity: MHA Trust, LLC
Nature of Claim: Convertible Notes
Claim Amount: $900,000

Entity: LG Electronics U.S.A., Inc.
Nature of Claim: Trade Payables
Claim Amount: $827,325

Entity: Greener Capital Partners II, LP
Nature of Claim: Convertible Notes
Claim Amount: $750,000

Entity: Easterly Acquisition Corp.
Nature of Claim: Trade Payables
Claim Amount: $680,412

Entity: BDO USA, LLP
Nature of Claim: Trade Payables
Claim Amount: $607,383

CFGI Holdings, LLC
Nature of Claim: Trade Payables
Claim Amount: $568,074

Entity: James S Sandler as Trustee under the James Sandler Revocable Trust
Nature of Claim: Convertible Notes
Claim Amount: $460,000

Entity: Locus Energy
Nature of Claim: Trade Payables
Claim Amount: $416,318

Entity: Anthem Blue Cross
Nature of Claim: Trade Payables
Claim Amount: $395,711

Entity: Google Inc.
Nature of Claim: Trade Payables
Claim Amount: $386,737