August 9, 2023

CohnReznick Capital Advises SaveSolar on §363 Sale of Assets

Pursuant to an order on July 26, 2023, by the Hon. Elizabeth L. Gunn, a newly formed joint venture, Edson Redball Devco LLC, acquired the assets of SaveSolar Corporation and affiliates, free and clear of all liens and encumbrances. In April, CohnReznick Capital Markets Securities, LLC (“CRC”) was appointed to act as the investment bank of the Debtors.

Prior to the chapter 11 filing on February 2, 2023, SaveSolar Corporation focused on developing and operating community solar projects for low-to-moderate income housing areas and commercial rooftops, ensuring residents receive the benefits of lowered electricity costs. Edson Redball prevailed at an auction held in DC on July 18.

Whiteford, Taylor & Preston LLP was Debtors’ Counsel with a team that included Bradford F. Englander, Stephen E. Luttrell, and Alexandra G. DeSimone.

CohnReznick, LLC was the Debtors’ Financial Advisor with a team that included Kevin P. Clancy, Taylor Sherman, and Jean Almonte.

The SaveSolar team included Karl Unterlechner, Thomas “TJ” Cox, Sam Goldstein, Bronson Bast, Carlos Huepa Bolivar, and Elicia Yoffee.

Edson Redball’s team included Ben Edson of Edson Solar plus Nick Giannotti, Zach Axelrod, and Brian Gottlieb of Redball Energy Co.

Edson Redball was represented by Counsel at Croke Fairchild Duarte & Beres, Jessica Fairchild, Robert Isham, and Kyle Shires, and from Brown Rudnick Tristan G. Axelrod, Steven B. Levine, and Matthew A. Sawyer.

Counsel representing the senior lender was from Nelson Mullins Riley & Scarborough LLP with Peter J. Haley and Dylan Trache.

We thank all the professionals that made this transaction possible.

Contact on this Deal: Jeff Manning