By Devika Patel
Knoxville, Tenn., March 7 – Hannon Armstrong Sustainable Infrastructure Capital, Inc. said it priced a public sale of stock on Monday to raise about $58 million with a greenshoe of about $8.7 million. The deal was announced on Monday.
The company will sell 3 million common shares at about $19.33 per share. The price per share is a 3.01% discount to the March 6 closing share price of $19.93.
BofA Merrill Lynch, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are the bookrunning managers.
Proceeds will be used to acquire target assets, to repay debt or for general corporate purposes.
Hannon Armstrong is a specialty finance company based in Annapolis, Md., that provides debt and equity financing to the energy efficiency and renewable energy markets.
| Issuer: | Hannon Armstrong Sustainable Infrastructure Capital, Inc.
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| Issue: | Common stock
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| Amount: | $58 million (approximate)
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| Greenshoe: | $8.7 million (approximate), or 450,000 shares
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| Shares: | 3 million
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| Price: | $19.33 (approximate)
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| Warrants: | No
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| Bookrunners: | BofA Merrill Lynch, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC
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| Co-managers: | Robert W. Baird & Co. Inc. and Oppenheimer& Co. Inc.
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| Announcement date: | March 6
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| Pricing date: | March 6
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| Stock symbol: | NYSE: HASI
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| Stock price: | $19.93 at close March 6
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| Market capitalization: | $931.77 million
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