SolarCity Announces Exercise of Over-Allotment Option, Closing of IPO

SolarCity Corporation (Nasdaq: SCTY), a provider of clean, distributed energy,announced today that the underwriters of its initial public offering haveexercised their option to purchase an additional 1,725,000 shares of commonstock from SolarCity at a price of $8.00 per share. The sale of theseadditional shares of common stock closed earlier today, following the closingon December 18, 2012 of the sale of 11,434,988 shares by SolarCity and 65,012shares by selling stockholders. As a result, SolarCity has received aggregatenet proceeds, after deducting underwriting discounts and commissions andestimated offering expenses, of approximately $94.6 million.