Sunnova Energy International Inc.’s Secondary Offering of Common Stock

Baker Botts L.L.P. represented Sunnova Energy International Inc. on the deal. Vinson & Elkins advised the underwriters on the deal.

Sunnova Energy International Inc. priced its secondary offering of 10,000,000 shares of its common stock by certain of its stockholders, including affiliates of Energy Capital Partners (collectively, the “Selling Stockholders”) at a price to public of $25.00 per share. The underwriters will have a 30-day option to purchase an additional 1,500,000 shares from certain of the Selling Stockholders. The offering is expected to close on August 18, 2020, subject to customary closing conditions.
Sunnova is not offering any shares of its common stock in the Offering and will not receive any proceeds from the sale of shares by the Selling Stockholders in the Offering.

Sunnova is a leading residential solar and energy storage service provider, serving more than 85,000 customers in more than 20 U.S. states and territories. Sunnova’s goal is to be the leading provider of clean, affordable and reliable energy for consumers, and they operate with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted.

Baker Botts team included Travis Wofford (Picture), Josh Davidson, Jennifer Gasser, Gita Pathak, Malakeh Hijazi, Michael Bresson, Jon Nelsen and Danny David.

The V&E team was led by partner David Oelman and senior associate Crosby Scofield, with assistance from senior associate Anne Peetz and associates Andrianna Frinzi and Houston Morgan. Partner David Cole and counsel Debbie Duncan provided tax advice. Also advising on the matter were counsel Damien Lyster and partner Matthew Dobbins.

Involved fees earner: Michael Bresson – Baker Botts; Danny David – Baker Botts; Joshua Davidson – Baker Botts; Jennifer Gasser – Baker Botts; Malakeh Hijazi – Baker Botts; Jon Nelsen – Baker Botts; Gita Pathak – Baker Botts; Travis Wofford – Baker Botts; David Cole – Vinson & Elkins LLP; Matthew Dobbins – Vinson & Elkins LLP; Debra Duncan – Vinson & Elkins LLP; Andrianna Frinzi – Vinson & Elkins LLP; Damien Lyster – Vinson & Elkins LLP; Houston Morgan – Vinson & Elkins LLP; David Palmer Oelman – Vinson & Elkins LLP; Anne Peetz – Vinson & Elkins LLP; Crosby Scofield – Vinson & Elkins LLP;

Law Firms: Baker Botts; Vinson & Elkins LLP;

Clients: Bank of America Securities; Credit Suisse; Goldman Sachs & Co.; JP Morgan; Sunnova Energy International Inc;

Author: Ambrogio Visconti