Deal sells common shares at $6.00 each with $8.07 million greenshoe
By Devika Patel
Knoxville, Tenn., March 30 - Enphase Energy, Inc. said it priced its $53.82 million initial public offering of stock with an $8.07 million greenshoe. It expects the shares to trade on the Nasdaq under the symbol "ENPH."
The company will sell 8,969,697 common shares at $6.00 per share.
Morgan Stanley & Co. LLC, BofA Merrill Lynch and Deutsche Bank Securities Inc. are the joint bookrunning managers, Jefferies & Co. is joint lead manager and Lazard Capital Markets LLC and ThinkEquity LLC are co-managers.
Third Point LLC, Madrone Partners, LP, KPCB Holdings, Inc., RockPort Capital Partners II, LP and Bay Partners are among the investors.
Settlement is expected April 4.
Proceeds will be used for general corporate purposes.
Based in Petaluma, Calif., Enphase delivers microinverter technology for the solar industry that increases energy production, simplifies design and installation, improves system uptime and reliability, reduces fire safety risk and provides a platform for intelligent energy management.
| Issuer: | Enphase Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $53,818,182
|
| Greenshoe: | $8,072,724
|
| Shares: | 8,969,697
|
| Price: | $6.00
|
| Warrants: | No
|
| Bookrunners: | Morgan Stanley & Co. LLC, BofA Merrill Lynch and Deutsche Bank Securities Inc.
|
| Investors: | Third Point LLC, Madrone Partners, LP, KPCB Holdings, Inc., RockPort Capital Partners II, LP and Bay Partners
|
| Pricing date: | March 30
|
| Settlement date: | April 4
|
| Stock exchange: | Nasdaq: ENPH
|
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