Vivint Solar Raises Nearly $300 Million In IPO


Utah-based Vivint Solar says the initial public offering (IPO) of 20,600,000 shares of common stock is priced at $16.00 per share. The IPO has thus raised $329.6 million for the installer of residential rooftop systems.

A stockholder affiliated with The Blackstone Group LP, which backs Vivint, has granted the underwriters a 30-day option to purchase up to an aggregate of an additional 3,090,000 shares. Vivint Solar will not receive any of the proceeds from the sale of shares by the selling stockholder.

Goldman, Sachs & Co., BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as lead book-running managers for the offering.Â

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