SunEdison's TerraForm prices IPO at $25

|By:, SA News Editor

TerraForm's (Pending:TERP) IPO price is at the high end of an elevated $23-$25 range, and spells a $2.37B valuation. Shares begin trading tomorrow.

The SunEdison (NYSE:SUNE) solar project spinoff will reap net IPO proceeds of $371.2M, and gross proceeds of $65M from private placements. The funds will be used to pay down debt, and potentially to buy solar project assets.

Prospectus, IPO analysis

Prior TerraForm coverage