Sunnova Announces Pricing Of $71.4M Offering Of 5.1M Shares Of Common Stock At A Price Of $14.75/Share
Portfolio Pulse from Happy Mohamed
Sunnova Energy International Inc. (NYSE:NOVA) has announced the pricing of its underwritten public offering of 5.1 million shares at $14.75 per share, with an option for underwriters to purchase an additional 765,000 shares. The offering is expected to close on August 16, 2023. The net proceeds, estimated at $71.4 million, will be used for general corporate purposes. Goldman Sachs & Co. LLC is the book-running manager of the offering.
August 14, 2023 | 1:24 pm
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Sunnova's public offering of 5.1 million shares could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price. However, the raised capital could strengthen the company's financial position in the long run.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a short-term decrease in stock price. However, the capital raised can be used to strengthen the company's financial position, potentially leading to long-term growth.
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