SolarCity Corp., which filed documents in September for an initial public offering (IPO), has made public a few additional details in a subsequent Securities and Exchange Commission (SEC) filing.
According to the new SEC document, the company plans to sell 10,000,000 shares of common stock. The price per share is expected to be between $13.00 and $15.00, and the stock will be listed on the NASDAQ Global Market under the symbol SCTY.
Although the industry has welcomed the news of SolarCity's IPO as a potential new source of hope in the struggling solar stock market, earlier SEC filings also revealed that the company was under investigation by the U.S. Department of Treasury for its Section 1603 cash-grant valuations. The outcome of that investigation has not yet been announced, and it remains to be determined how – or whether – the controversy will affect the IPO.
