Enphase Energy, Inc. (NasdaqGM:ENPH) announced that it has entered into a securities purchase agreement for a private placement of 10,813,148 common shares at $0.9248 per share for gross proceeds of $9,999,999.2704 on January 9, 2017. The transaction included participation from new investors Foris Ventures, LLC and Thurman John Rodgers, who have subscribed for 5,406,574 common shares for proceeds of $4,999,999.64 each respectively. The company paid its own costs and expenses in connection transaction to compensate the investors for the reasonable and documented out-of-pocket fees and disbursements of counsel to the investors up to $20,000. The company issued the securities pursuant to exemption provided under Regulation D. As part of the transaction, Thurman John Rodgers joined the company’s board of directors.