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 have exercised their option to purchase an additional 1,725,000 shares of common stock from SolarCity at a price of $8.00 per share. The sale of these additional shares of common stock closed earlier today, following the closing on December 18, 2012 of the sale of 11,434,988 shares by SolarCity and 65,012 shares by selling stockholders. As a result, SolarCity has received aggregate net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, of approximately $94.6 million.
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