Deal Description: On July 29, 2019, Sunnova Energy International Inc. (NYSE: NOVA) closed its initial public offering of 14,000,000 shares of its common stock at a price to public of $12.00 per share. The underwriters will have a 30-day option to purchase an additional 2,100,000 shares from Sunnova at the initial public offering price, less underwriting discounts and commissions. The shares will begin trading on the New York Stock Exchange on July 25, 2019 under the ticker symbol “NOVA” and the offering is expected to close on July 29, 2019, subject to customary closing conditions.
Sunnova Energy International Inc. intends to use the net proceeds from this offering to reduce existing indebtedness and for other general corporate purposes.
Sunnova is a leading residential solar and energy storage service provider, serving more than 63,000 customers in more than 20 U.S. states and territories.
BofA Merrill Lynch, J.P. Morgan and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. Credit Suisse is also acting as a joint book-running manager. KeyBanc Capital Markets, Baird and Roth Capital Partners are acting as co-managers.
Baker Botts L.L.P. represented Sunnova in the transaction.
Principal Baker Botts Lawyers/Office Involved:
Travis Wofford (Partner, Houston); Josh Davidson (Partner, Houston); Danny David (Partner, Houston); Sarah Dodson (Associate, Houston); Jennifer Gasser (Associate; Houston); Katie Belleville (Associate, Houston) Mitch Athey (Associate; Houston); Parker Hinman (Associate, Houston)
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