BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities assist
By Devika Patel
Knoxville, Tenn., May 4 – The underwriters for Hannon Armstrong Sustainable Infrastructure Capital, Inc.’s public offering of stock opted to exercise the deal’s $11.1 million greenshoe in full, lifting total proceeds of the offering to $85.1 million, according to an 8-K filed Monday with the Securities and Exchange Commission. The offering was announced April 28 and priced for $74 million with the greenshoe on April 29.
The company sold 4.6 million common shares at $18.50 apiece. The price per share is a 10.71% discount to the April 28 closing share price of $19.33. Of the shares, 600,000 were part of the fully exercised greenshoe.
BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities were the bookrunners.
Hannon Armstrong is a specialty finance company based in Annapolis, Md., that provides debt and equity financing for infrastructure projects.
| Issuer: | Hannon Armstrong Sustainable Infrastructure Capital, Inc.
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| Issue: | Common stock
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| Amount: | $85.1 million, including $11.1 million greenshoe
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| Shares: | 4.6 million
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| Price: | $18.50
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| Warrants: | No
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| Bookrunner: | BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities
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| Co-managers: | Baird and Roth Capital Partners
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| Announcement date: | April 28
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| Pricing date: | April 29
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| Stock symbol: | NYSE: HASI
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| Stock price: | $19.33 at close April 28
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| Market capitalization: | $544.65 million
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