Deal Details
Sunnova Completes $500 Million Convertible Notes Offering
Summary
Sunnova Energy International Inc. (“Sunnova” or the “Company”) (NYSE: NOVA) recently completed an upsized offering of $500 million aggregate principal amount of 2.625% Convertible Senior Notes due 2028. Sunnova also granted the initial purchasers of the notes the option to purchase up to an additional $100 million aggregate principal amount of the notes within a 13-day period beginning on, and including, the date on which the notes are first issued. Sunnova intends to use the net proceeds to pay the cost of capped call transactions, general corporate purposes, including, among other things, the funding of working capital, operating expenses, capital expenditures and the repayment of indebtedness.
Baird served as a co-manager on this offering.
About
Sunnova is a leading residential solar and energy storage service provider, serving more than 224,000 customers in more than 35 United States (“U.S.”) states and territories. The Company’s goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted. Sunnova was founded to deliver customers a better energy service at a better price. Through the Company’s solar and solar plus energy storage service offerings, they are disrupting the traditional energy landscape and the way the 21st century customer generates and consumes electricity. Sunnova is headquartered in Houston, TX.CONTACT US TO LEARN MORE
- Date
- August 2022
- Company
- Sunnova Energy International Inc.
- Transaction
- Equity Capital Markets
- Sectors
-
Technology & Services
Energy - Verticals
-
Energy Transition Solutions
Facility, Industrial, Residential & Environmental Services
Energy
- Target Geography
- North America
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