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 8,050,000 shares of common stock, which includes the full overallotment option, consisting of 4,025,000 shares of common stock offered by Sunnova and 4,025,000 shares of common stock offered by a fund affiliated with Newlight Partners, at a price of $37.00 per share, generating gross proceeds of $297.9 million. Sunnova intends to use the net proceeds from this Offering to acquire solar equipment, for the repayment of indebtedness, including to redeem approximately $39.0 million aggregate principal amount of the 9.75% convertible senior notes due 2025.

Sunnova is a leading residential solar and energy storage service provider, serving more than 98,000 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.
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Technology & Services
Follow-on Offering
Date
December 2020
Company
Sunnova Energy International Inc.
Transaction
M&A
Sectors
Technology & Services
Target Location
North America

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