SolarCity decreases proposed IPO deal size

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SolarCity, which leases and installs solar energy systems for homes and businesses, lowered the proposed deal size for its upcoming IPO on Wednesday. The San Mateo, CA-based company now plans to raise $92 million by offering 11.5 million shares (1% insider) at $8. The company had previously filed to offer 10.1 million shares at a range of $13 to $15. At the midpoint of the revised range, SolarCity will raise -35% less proceeds than previously anticipated. SolarCity, which was founded in 2006 and booked $124 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol SCTY. Goldman Sachs, Credit Suisse, 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 The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: SCTY

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