Some six months after Sunworks acquired Provo, Utah-based Solcius for $51.8 million in cash, Sunworks has quietly moved its headquarters from Roseville, California to Provo.
As noted by the company in its early June news release, Sunworks (NasdaqCM:SUNW) had already
"... consolidated the Sunworks residential team into Solcius, embracing their systems and practices."
The release further explained that such consolidation of corporate-wide support services included
- IT, and
and was slated to happen by the end of Q3.
So given that it's now the fourth quarter, we're all good, right?
Except that when Sunworks put out a news release last week announcing the addition of two C-Level execs, the dateline of the release read PROVO, UT and NOT Roseville, California.
When I dug a bit further, it turns out that Sunworks most recent Form 8-K filing with the U.S. Securities and Exchange Commission noted that the company had changed its "Principal Executive Offices" since its last SEC filing in mid-August. A-ha!
In other words ... without fanfare ... Utah has gained a significant player in the solar power industry with a special focus on the residential, agricultural, commercial and industrial, federal, and public works markets.
That being the case, welcome to Utah and Silicon Slopes, Sunworks.