UPDATE: SolarCity Confirms Pricing of 3.4M Share Offering at $46.54/Share

SolarCity Corp.

today announced the pricing of offerings of 3,400,000 shares of common stock at a price of $46.54 per share and $200.0 million aggregate principal amount of its 2.75% convertible senior notes due 2018 in concurrent underwritten registered public offerings. In addition, SolarCity has granted the underwriters a 30-day option to purchase up to an additional 510,000 shares of common stock and $30.0 million in aggregate principal amount of the notes. The sale of the shares of common stock and the notes are expected to close on October 21, 2013, subject to the satisfaction of customary closing conditions. The offering of the common stock is contingent upon the successful completion of the offering of the notes, and the offering of the notes is contingent upon the successful completion of the offering of the common stock. The notes will be unsecured, unsubordinated obligations of SolarCity, and interest will be payable semi-annually at a rate of 2.75% per year. The initial conversion rate is 16.2165 shares of common stock per $1,000 principal amount of the notes (which is equivalent to an initial conversion price of approximately $61.67 per share). The notes will