Follow-on Offering

Technology & Services
Follow-on Offering

Summary

Baird served as a co-manager on this offering

About

Sunnova Energy International Inc. (“Sunnova” or the “Company”) (NYSE: NOVA) recently completed a follow-on offering of 6,988,423 shares of common stock at a price of $16.50 per share, generating gross proceeds of $115.3 million, including full exercise of the overallotment option. All shares sold in the offering were offered by certain shareholders of Sunnova, including affiliates of Energy Capital Partners (the “selling stockholders”).

Sunnova is a leading residential solar and energy storage service provider, serving more than 85,000 customers in more than 20 U.S. states and territories. The Company’s goal is to be the leading provider of clean, affordable and reliable energy for consumers, and it operates with a simple mission: to power energy independence. Sunnova was founded in 2012 and is headquartered in Houston, Texas.

Energy Capital Partners is a private equity firm that invests in existing and new-build energy infrastructure projects primarily in North America. Energy Capital Partners actively manages its assets and businesses alongside management teams to execute growth strategies and generate efficiencies. Energy Capital Partners is headquartered in Short Hills, New Jersey.
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Technology & Services
Follow-on Offering
Date
July 2020
Company
Sunnova Energy International Inc.
Transaction
M&A
Sectors
Technology & Services
Target Location
North America

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