SunEdison Prices Offering of 30 Million Shares

Following the Sept. 10 news of its intention to issue 30 million shares of common stock in a public offering, SunEdisonannounced today it will price the stock at $7.25 per share. Sunedison's stock closed at $7.51 a share on Sept. 12.

Prior to the new stock offering, SunEdison had 231.96 million shares outstanding, according to its SEC filing relating to the new stock issuance.

In addition to the 30 million shares made available to the public, SunEdison has also granted the underwriters of the offering a 30-day option to purchase as many as 4.5 million shares at the offering price less an "underwriting discount."

SunEdison said in its statement that proceeds from the offering, which could reach $217.5 million before underwriting costs, will be used for general corporate purposes including "funding working capital and growth initiatives."

The stock offering is expected to close on Sept. 18.


The article SunEdison Prices Offering of 30 Million Shares originally appeared on

Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story