SAN MATEO, Calif., Dec. 20, 2012 – SolarCity Corporation (Nasdaq: SCTY), a provider of clean, distributed energy, announced today that the underwriters of its initial public offering have exercised their option to purchase an additional 1,725,000 shares of common stock from SolarCity at a price of $8.00 per share. The sale of these additional shares of common stock closed earlier today, following the closing on December 18, 2012 of the sale of 11,434,988 shares by SolarCity and 65,012 shares by selling stockholders. As a result, SolarCity has received aggregate net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, of approximately $94.6 million.
Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC and BofA Merrill Lynch are acting as the representatives of the underwriters and joint book-running managers for the offering. Needham & Company, LLC and Roth Capital Partners are acting as co-managers.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on December 12, 2012. This offering is being made only by means of a prospectus, copies of which may be obtained from: Goldman, Sachs & Co., 200 West Street, New York, New York 10282, Attention: Prospectus Department, by calling (866) 471-2526, or by e-mailing email@example.com; from Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY 10010, Attention: Prospectus Department, or by telephone at 1-800-221-1037; or from BofA Merrill Lynch, 222 Broadway, 7th Floor, New York, New York 10038, Attention: Prospectus Department, or by e-mailing firstname.lastname@example.org.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 15 states and signs up approximately one new customer every minute of the work day. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.