TerraForm Power increases proposed IPO range
TerraForm Power, a spinoff of SunEdison that owns contracted solar generation assets, raised the proposed price range for its upcoming IPO on Wednesday. The Beltsville, MA-based company now plans to raise $482 million by offering 20.1 million shares at a price range of $23 to $25, up from a previously filed range of $19-$21. At the midpoint of the revised range, TerraForm Power will raise 20% more proceeds than previously anticipated. TerraForm Power plans to list on the NASDAQ under the symbol TERP. Goldman Sachs, Barclays, Citi, JPMorgan and Macquarie are the joint bookrunners on the deal. It is expected to price during the week of July 14, 2014.