Solar installer Sunrun has revealed details of its impending IPO, which will look to raise as much US$309 million.
The company filed documents with the SEC at the end of June. Shares will initially be priced at US$13-15 and will trade on the NASDAQ under the symbol “RUN”.
After deductions, the company’s filing estimates approximate net proceeds of US$221.8 million.
The use of proceeds is listed as “general corporate purposes, including working capital, operating expenses and capital expenditures”.
The US residential market is enjoying a boom and is undergoing a period of consolidation. SolarCity, the largest installer, went public in 2012, rival Vivint Solar floated in October 2014. This week SunEdison acquired Vivint Solar for US$2.2 billion.