By Devika Patel
Knoxville, Tenn., March 10 – Hannon Armstrong Sustainable Infrastructure Capital, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $8.43 million greenshoe in full, lifting total proceeds of the offering to $64.62 million. The deal was announced March 6 and priced for $56.19 million with the greenshoe on the same day.
The company sold 3.45 million common shares at $18.73 per share. The price per share is a 6.02% discount to the March 6 closing share price of $19.93. Of the shares, 450,000 were part of the fully exercised greenshoe.
BofA Merrill Lynch, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC were 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: | $64,618,500, including $8,428,500 greenshoe of 450,000 shares
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| Shares: | 3.45 million
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| Price: | $18.73
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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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| Settlement date: | March 10
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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: | $924.59 million
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