Hannon Armstrong Sustainable Infrastructure Capital, a structured REIT that provides financing for clean energy projects, announced terms for its IPO on Thursday. The Annapolis, MD-based company plans to raise $200 million by offering 13.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Hannon Armstrong would command a market value of $227 million.
Hannon Armstrong, which was founded in 2012 and booked $17 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE and changed its proposed symbol to HASI. Hannon Armstrong Sustainable Infrastructure Capital initially filed confidentially on 11/9/2012. BofA Merrill Lynch, UBS Investment Bank and Wells Fargo Securities are the joint bookrunners on the deal.
