By Christopher Zinsli
Of DOW JONES VENTUREWIRE
BrightSource Energy Inc. has applied for a listing on the Nasdaq
Global Select Market, but the solar systems developer hasn't
settled on a ticker symbol, according to the company's amended
prospectus filed with regulators Thursday.
The Oakland, Calif.-based company filed in April to sell up to
$250 million in common stock.
BrightSource makes systems for utility-scale solar electric
power plants using concentrating mirrors. Its massive Ivanpah
project in the Mojave Desert, which entered construction last
October, is supported by a $1.6 billion loan guarantee from the
Department of Energy.
The company also has raised a considerable amount of private
capital, including $356.4 million from investors as of the end of
last year. It added another $200 million in Series E funding
earlier this year, then Google Inc. provided $168 million more in
April.
VantagePoint Capital Partners is BrightSource's largest
shareholder, controlling 24.9% of its shares. Alstom Power Inc.
holds a 17.8% stake, while Morgan Stanley has 10.5%, Los Angeles
Advisory Services Inc. owns 7.5% and Draper Fisher Jurvetson
manages 6.7%.
Other investors have included BP Technology Ventures, Black
River Asset Management, California State Teachers Retirement
System, Chevron Technology Ventures, DBL Investors and
StatoilHydro, VentureWire records show.
BrightSource's chairman, John E. Bryson, was nominated by
President Barack Obama last month to be the next Secretary of
Commerce. The company said Thursday it will appoint a new chairman
and director if Bryson is confirmed by the U.S. Senate.
(This story was also published in Dow Jones VentureWire, a daily
publication that covers news about start-ups and venture
capital.)
-By Christopher Zinsli, Dow Jones VentureWire; 212-416-2034;
christopher.zinsli@dowjones.com