Sunnova Announces Pricing of Offering of Shares of Common Stock
August 14 2023 - 8:05AM
Business Wire
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA) today
announced the pricing of its underwritten public offering (the
“Offering”) of 5,100,000 shares of Sunnova’s common stock, par
value $0.0001 per share (the “common stock”), 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,
subject to the satisfaction of customary closing conditions.
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 approximately $71.4 million
(or approximately $82.4 million if the underwriters exercise in
full their option to purchase additional shares of Sunnova’s common
stock). Sunnova intends to use the net proceeds from this Offering
for general corporate purposes.
Goldman Sachs & Co. LLC is acting as the book-running
manager of the Offering.
Sunnova has filed a shelf registration statement on Form S-3
relating to the Offering (including a prospectus) with the
Securities and Exchange Commission (the “SEC”) that became
effective upon filing. The shares will be issued and sold pursuant
to such effective registration statement. A prospectus supplement
relating to the Offering has also been filed with the SEC. Before
you invest, you should read the prospectus, the prospectus
supplement and other documents that Sunnova may file with the SEC
for more complete information about Sunnova and this Offering. A
copy of the prospectus supplement and accompanying prospectus
relating to the Offering may be obtained from Goldman Sachs &
Co. LLC, Prospectus Department, 200 West Street, New York, NY
10282, Telephone: 1-866-471-2526, Facsimile: 212-902-9316, Email:
Prospectus-ny@ny.email.gs.com.
To obtain a copy of the prospectus supplement or prospectus,
free of charge, visit the SEC’s website, www.sec.gov, and search
under the registrant’s name “Sunnova Energy International Inc.”
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements generally relate to future
events or Sunnova’s future financial or operating performance. In
some cases, you can identify forward-looking statements because
they contain words such as “may,” “will,” “should,” “expects,”
“plans,” “anticipates,” “going to,” “could,” “intends,” “target,”
“projects,” “contemplates,” “believes,” “estimates,” “predicts,”
“potential” or “continue” or the negative of these words or other
similar terms or expressions that concern Sunnova’s expectations,
strategy, priorities, plans or intentions. Forward-looking
statements in this press release include, but are not limited to,
statements regarding the expectations in connection with the
Offering and the size and terms of the Offering. Sunnova’s
expectations and beliefs regarding these matters may not
materialize, and actual results in future periods are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected, including supply chain
uncertainties, results of operations and financial position,
Sunnova’s competition, changes in regulations applicable to
Sunnova’s business, fluctuations in the solar and home-building
markets, availability of capital and Sunnova’s ability to attract
and retain dealers and customers and manage its dealer and
strategic partner relationships. The forward-looking statements
contained in this press release are also subject to other risks and
uncertainties, including those more fully described in Sunnova’s
filings with the SEC, including Sunnova’s annual report on Form
10-K for the year ended December 31, 2022 and subsequent quarterly
reports on Form 10-Q. The forward-looking statements in this press
release are based on information available to Sunnova as of the
date hereof, and Sunnova disclaims any obligation to update any
forward-looking statements, except as required by law.
ABOUT SUNNOVA
Sunnova Energy International Inc. (NYSE: NOVA) is a leading
Energy as a Service (EaaS) provider with customers across the U.S.
and its territories. Sunnova’s goal is to be the source of clean,
affordable and reliable energy with a simple mission: to power
energy independence so that home and business owners have the
freedom to live life uninterrupted®.
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version on businesswire.com: https://www.businesswire.com/news/home/20230814428759/en/
Media Contact Kelsey
Hultberg Kelsey.hultberg@sunnova.com
Investor & Analyst
Contact Rodney McMahan Rodney.McMahan@sunnova.com
281.971.3323
Sunnova Energy (NYSE:NOVA)
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