TerraForm Power has also granted the underwriters a 30-day option to purchase additional shares of its Class A common stock.
TerraForm Power intends to use the net proceeds from the offering, along with the net proceeds of its recently completed offering of $150 million of its senior notes due 2023, to (a) repay amounts outstanding on its revolving credit facility, which amounts were used to fund previously announced acquisitions including Canadian solar plant acquisitions from Invenergy and Moose Power and the acquisition of certain solar generation facilities from a wholly-owned subsidiary of Integrys Energy Group, Inc., and (b) for general corporate purposes, which may include the funding of future acquisitions from its sponsor (SunEdison, Inc.) (NYSE:SUNE), future acquisitions from third parties, and/or debt repayment. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the size or terms of the offering.
Morgan Stanley, J.P. Morgan, Barclays, Citigroup, BofA Merrill Lynch, Macquarie Capital, and UBS Investment Bank are serving as joint bookrunners in the offering.
