SunEdison's YieldCo spinoff hikes IPO price range

|By:, SA News Editor

SunEdison's (SUNE +0.9%) TerraForm Power (Pending:TERP) solar project YieldCo has hiked its IPO price range by $4 to $23-$25.

IPO Boutique says the offering, which is set to price tonight, and begin trading tomorrow, is "multiple times oversubscribed."

At the midpoint of the range, TerraForm would be worth $2.3B, and raising $547M. The company is selling 20.1M shares through the offering, and 2.7M through private placements.

SunEdison is set to own 67.2M shares post-IPO, and maintain 95.2% voting power.

Prospectus, IPO analysis

Prior TerraForm coverage