Sunnova Energy International, which provides residential solar energy systems and services, announced terms for its IPO on Friday.
The Houston, TX-based company plans to raise $300 million by offering 17.6 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Sunnova Energy International would command a fully diluted market value of $1.5 billion.
Sunnova Energy International was founded in 2012 and booked $111 million in sales for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol NOVA. BofA Merrill Lynch, J.P. Morgan, Goldman Sachs and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of July 22, 2019.
