Vivint Solar Sets IPO Range

Lehi, Utah-based Vivint Solar, the solar installation spinout of Vivint, has set its estimated IPO pricing range this morning, saying that it now expects to IPO at between $16.00 and $18.00 per share. Vivint has been approved to list on the New York Stock Exchange as VSLR. Vivint is looking to raise as much as $426.42M in its IPO, selling 20,600,000 shares in the offering. The IPO is being underwritten by Goldman, Sachs & Co., BofA Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank Securities, Morgan Stanley, Barclays, and Blackstone Capital Markets. The IPO is expected to price on October 1st. Vivint Solar is majority owned by Blackstone Capital Partners. The company only filed for its IPO on August 26th.