Published on November 27th, 2012 | by Adam Johnston0
SolarCity Set To Release IPO By Holiday Season
November 27th, 2012 by Adam Johnston
After much anticipation and some delay, SolarCity, one of the top solar panel installation companies in North America, is scheduled to release its initial public offering (IPO) by the end of 2012.
Originally set for earlier this Fall, the release of the IPO was delayed due to Hurricane Sandy in late October, according to Reuters, not long after SolarCity had initially filed with the US Securities and Exchange Commission (SEC).
SolarCity will hit the ground running in attempts to drum up investor support for the $200 million offering to the public, and further grow its presence in the cleantech arena.
As reported here on Cleantechnica in October, the company plans to have common stock on the NASDAQ stock exchange in New York, with the ticker symbol Scty.
Meanwhile, Roth Capital Partners and Needham & Company LLC will co-manage the offering. Credit Suisse LLC, Merril Lynch BofA, and Goldman Sachs & Co will undertake book managing services for the IPO.
SolarCity would not be the first cleantech company to undergo an IPO. Tesla Motors in 2010 offered its shares on the NASDAQ initially in 2010 for $178 million, as have a number of other companies.