Yesterday, The Alliance for Solar Choice (TASC) founding member and a key player in the founding of KULOLO (Keep Our Utilities Locally Owner & Locally Operated), Sunrun, filed a Statement of Registration with the Securities Exchange Commission for an initial public offering (IPO) of its common stock.
Here's part of a Reuter's story filed yesterday:
. . .Sunrun's filing, which included a nominal fundraising target of about $100 million, did not reveal how many shares the company planned to sell or their expected price.
Sunrun, which intends to list its common stock on the Nasdaq under the symbol "RUN," listed venture capital firms Foundation Capital, Accel Partners and Sequoia Capital among its major shareholders.
The net proceeds from the offering will be used for general corporate purposes, including working capital and capital expenditures, Sunrun said.
The company's net loss more than doubled to about $162.6 million in 2014 from 2013, while total revenue almost quadrupled to $198.6 million.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.Here's a link to another story about Sunrun's journey to an IPO by Fortune.
Soon we'll have two pots calling the kettle black.
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