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Wednesday, Dec 12
2012, 5:59 PM
SolarCity (SCTY) has priced its IPO at $8, well below a prior range of $13-$15 and good for a...
SolarCity (SCTY) has priced its IPO at $8, well below a prior range of $13-$15 and good for a market cap of $585M. The solar pseudo-utility (it installs panels for free, then sells the electricity they generate) will now be offering 11.5M shares, up from a prior 10M. It has been posting big losses to go with strong revenue growth. The performance of solar stocks in recent years (today's gains notwithstanding) seems to be scaring off investors. (S-1)