Deals
A War Between Two Rooftop Solar Installers That Undercut an IPO
- Sunnova scaled back initial share sale and cut offer price
- Claims of superior business model decried by competitor Sunrun
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Sunnova Energy International Inc. was set to pull off one of the biggest rooftop solar IPOs in recent history. Earlier this week, the company was estimating its value at almost $1 billion and offering shares for $16 to $18.
Instead, the Houston-based solar panel installer priced at $12, and the stock tanked in its trading debut Thursday.