By Tali Rackner
Norfolk, Va., June 22 – Hannon Armstrong Sustainable Infrastructure Capital, Inc. closed its public offering of 4.6 million shares of common stock for total net proceeds of about $90.5 million, 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 total amount includes a 600,000 share greenshoe option.
As previously reported, 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.
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| Issue: | Common stock
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| Amount: | $90.5 million
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| Shares: | 4.6 million, including 600,000 share greenshoe
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| Price: | Variable
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| Bookrunners: | BofA Merrill Lynch, Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and Robert W. Baird & Co. Inc.
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| Pricing date: | June 15
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| Stock listing: | NYSE: HASI
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| Stock price: | $21.15 at close June 15
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