Elon Musk's SolarCity sets terms for $141 million IPO

By Renaissance Capital,

Shutterstock photo

SolarCity, which leases and installs solar energy systems for homes and businesses, announced terms for its IPO on Tuesday. The San Mateo, CA-based company plans to raise $141 million by offering 10.1 million shares (1% insider) at a price range of $13 to $15. At the midpoint of the proposed range, SolarCity would command a fully diluted market value of $1.2 billion.

SolarCity, which was founded in 2006 and booked $111 million in sales for the 12 months ended 6/30/2012, plans to list on the NASDAQ under the symbol SCTY. Goldman Sachs, Credit Suisse and BofA Merrill Lynch are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: SCTY

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