Deal Details
Sunnova Completes $297.9 Million Follow-On Offering
Summary
Sunnova Energy International Inc. (“Sunnova” or the “Company”) (NYSE: NOVA) recently completed a follow-on offering of 8,050,000 shares of common stock, which includes the full overallotment option, consisting of 4,025,000 shares of common stock offered by Sunnova and 4,025,000 shares of common stock offered by a fund affiliated with Newlight Partners, at a price of $37.00 per share, generating gross proceeds of $297.9 million. Sunnova intends to use the net proceeds from this Offering to acquire solar equipment, for the repayment of indebtedness, including to redeem approximately $39.0 million aggregate principal amount of the 9.75% convertible senior notes due 2025.
Baird served as a co-manager on this offering.
About
Sunnova is a leading residential solar and energy storage service provider, serving more than 98,000 customers in more than 20 U.S. states and territories. The Company’s goal is to be the leading provider of clean, affordable and reliable energy for consumers, and it operates with a simple mission: to power energy independence. Sunnova was founded in 2012 and is headquartered in Houston, Texas.CONTACT US TO LEARN MORE
- Date
- December 2020
- Company
- Sunnova Energy International Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Technology & Services
- Verticals
-
Real Estate
- Target Geography
- North America
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