Bloom Energy (NYSE: BE ) is holding its Initial Public Offering (IPO) today.
The following are a few things to know about the Bloom Energy IPO.
- The company's starting price for the IPO is $15.00 per share.
- The IPO includes a total of 18 million shares available for investors to purchase.
- There's also an additional 2.70 million shares up for grabs for those taking part in the IPO.
- These extra shares will be available for 30 days after the IPO and will remain and the starting price of $15.00.
- This has the total value of the IPO sitting between $270 million and $310.50 million.
- Bloom Energy's IPO starts today and will last through July 27, 2018 .
- The lead book-running managers for the Bloom Energy IPO are J.P. Morgan and Morgan Stanley.
- Credit Suisse, KeyBanc Capital Markets and BofA Merrill Lynch are also acting as book-runners for the IPO.
- Co-managers of the IPO include Baird, Cowen, HSBC, Oppenheimer & Co. and Raymond James.
Bloom Energy is a company that seeks to create clean energy with its Bloom's Energy Servers. These are based on technology developed by founder and CEO Dr. K.R. Sridhar during his time at NASA. The servers are able to take energy from a solar panel and convert it into air and fuel.
Bloom Energy got its start after Sridhar left NASA in 2001. At the time, the company was going by the name Ion America. It completed several successful test runs for its Bloom's Energy Servers over the years. The first commercial product from the company came out in 2008. Google was the buyer of these Energy Servers.
BE stock was up 39% as of Wednesday afternoon.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.