Tuesday, November 27, 2012

SolarCity Sets IPO Pricing Range

San Mateo-based SolarCity is rapidly moving towards its goal of having an IPO before the end of the year, and has set an initial estimated public offering range this morning. The firm said it estimates that its IPO price per share will be between $13.00 and $15.00, and that it is looking to list on the NASDAQ Global Market as SCTY. SolarCity has filed to sell 10,065,012 shares of its common stock in the offering. SolarCity offers up power purchase agreements (PPAs), which help homeowners install solar power without the upfront costs of buying those systems outright. The firm's IPO is being underwritten by Goldman, Sachs & Co., Credit Suisse, BofA Merrill Lynch, Needham & Company, and Roth Capital Partners.