Sunrun chief executive Lynn Jurich rang the Nasdaq’s opening bell in New York, as the San Francisco-based company sold 17.9 million shares at $14 each, in line with expectations.
By mid-morning, the shares – listed under the ticker symbol RUN – had fallen 15%, to $11.90.
The underwriters have a 30-day option to buy another 2.7 million shares.
Sunrun is a tier-one player in the booming US distributed solar market, and in following its closest rivals SolarCity and Vivint Solar onto the public markets, it will be better able to compete in raising capital.
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