Deal Details
Sunrun Competes $350 Million Convertible Notes Offering
Summary
Sunrun, Inc. (“Sunrun” or the “Company”) (NASDAQ: RUN) recently completed an offering of $350 million aggregate principal amount of 0% Convertible Senior Notes due 2026. Sunrun also granted the initial purchasers of the notes the option to purchase up to an additional $50 million aggregate principal amount of the notes within a 13-day period from issuance. The Company intends to use $24.5 million of the net proceeds to pay the cost of capped call transactions and the remainder of the net proceeds to repay outstanding debt and for other general corporate purposes.
Baird served as a co-manager on this offering.
About
Sunrun is the nation's leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun's innovative home battery solution, Brightbox, brings families affordable, resilient, and reliable energy. The Company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources.CONTACT US TO LEARN MORE
- Date
- February 2021
- Company
- Sunrun, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Technology & Services
- Verticals
-
Facility, Industrial, Residential & Environmental Services
- Target Geography
- North America
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