By Angela McDaniels
Tacoma, Wash., June 15 – Hannon Armstrong Sustainable Infrastructure Capital, Inc. priced an $82 million public offering of common stock, according to a company news release.
BofA Merrill Lynch, Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and Robert W. Baird & Co. Inc. are the bookrunners.
The underwriters will offer 4 million shares from time to time for sale in negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
The underwriters have been granted a 30-day over-allotment option for up to 600,000 additional shares.
The company initially announced plans to offer 3.85 million shares with a greenshoe for 577,500 additional shares.
The issuer plans to contribute the proceeds to its operating partnership, which in turn will use the proceeds to repay outstanding borrowings under a credit facility or for general corporate purposes.
Hannon Armstrong provides debt and equity financing to the energy efficiency and renewable energy markets and is based in Annapolis, Md.
| Issuer: | Hannon Armstrong Sustainable Infrastructure Capital, Inc.
|
| Issue: | Common stock
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| Amount: | $82 million
|
| Shares: | 4 million
|
| Greenshoe: | 600,000 shares
|
| Price: | Variable
|
| Bookrunners: | BofA Merrill Lynch, Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and Robert W. Baird & Co. Inc.
|
| Pricing date: | June 15
|
| Stock listing: | NYSE: HASI
|
| Stock price: | $21.15 at close June 15
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