Deal Description: On July 1, 2020, Sunnova Energy International Inc. (NYSE: NOVA) priced its secondary offering of 6,076,890 shares of its common stock by certain of its stockholders, including affiliates of Energy Capital Partners (collectively, the “Selling Stockholders”) at a price to public of $16.50 per share. The underwriters will have a 30-day option to purchase an additional 911,533 shares from certain of the Selling Stockholders. The offering is expected to close on July 6, 2020, subject to customary closing conditions.
Sunnova is not offering any shares of its common stock in the Offering and will not receive any proceeds from the sale of shares by the Selling Stockholders in the Offering.
Sunnova is a leading residential solar and energy storage service provider, serving more than 85,000 customers in more than 20 U.S. states and territories. Sunnova's goal is to be the leading provider of clean, affordable and reliable energy for consumers, and they operate with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted™.
J.P. Morgan, BofA Securities, Credit Suisse and Goldman Sachs & Co. LLC are acting as joint book-running managers. Baird, KeyBanc Capital Markets, Roth Capital Partners, B. Riley, JMP Securities and Raymond James are acting as co-managers.
Baker Botts L.L.P. represented Sunnova in the transaction.
Issuer: Sunnova Energy International Inc.
Outside Counsel to Sunnova Energy International Inc.: Baker Botts L.L.P.
Principal Baker Botts Lawyers/Office Involved:
- Corporate: Travis Wofford (Partner, Houston); Josh Davidson (Partner, Houston); Sarah Dodson (Senior Associate, Houston); Mitch Athey (Associate; Houston); Parker Hinman (Associate, Houston); Malakeh Hijazi (Associate, Houston)
- Tax: Michael Bresson (Partner, Houston); Jon Nelsen (Partner, Austin)
- Advisory Counsel: Danny David (Partner, Houston)
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