Sunnova Energy Prices Public Offering Of 5.10 Mln Shares At $14.75/shr

(RTTNews) - Sunnova Energy International Inc. (NOVA) said that it priced its underwritten public offering of 5.10 million shares of Sunnova's common stock, par value $0.0001 per share, at a price to the public of $14.75 per share.

Sunnova has granted the underwriters a 30-day option to purchase an additional 765,000 shares of common stock.

The Offering is expected to settle and close on August 16, 2023.

Sunnova estimates that the net proceeds from the sale of shares of the common stock in this Offering, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by Sunnova, will be about $71.4 million or about $82.4 million if the underwriters exercise in full their option to purchase additional shares of Sunnova's common stock.

Sunnova plans to use the net proceeds from the Offering for general corporate purposes.