SolarCity IPO Rescheduled for December 13 with Updated Pricing

SolarCity

An update to this prior article on the SolarCity IPO. Today (December 12), SolarCity filed an updated S-1 with the SEC. This S-1 indicates that SolarCity will now sell approximately 11.5 million shares at an expected price of $8 per share. According to this article from Reuters, SolarCity is now scheduled to price shares in its initial public offering (IPO) on December 12 and may begin trading on December 13. Shares will trade on the NASDAQ under ticker symbol "SCTY".

If the final offering price is $8, SolarCity estimates that the net proceeds it will receive in the IPO will be approximately $81.7 million (net of commissions and expenses related to the IPO). If the underwriters exercise their over-allotment option in full, the company estimates that its net proceeds will be approximately $94.6 million.

If the final offering price is $8, SolarCity will have a market capitalization of approximately $584 million (based on the approximately 73 million shares of common stock outstanding as indicated in the S-1).

In addition to shares being sold by SolarCity, other shareholders will be selling approximately 65,000 shares at the IPO.

You can learn more about this offering via the following: