Thursday, December 13, 2012
SolarCity Up In IPO
Foster City-based SolarCity, the provider of solar power purchase agreements for the solar installation market, debuted in its IPO this morning, after pricing at $8 per share Wednesday evening. The firm was trading as high as $11.00 in morning trading. SolarCity sold 11.5 million shares at $8 in the IPO. SolarCity was backed by Elon Musk, Draper Fisher Jurvetson, Generation IM Climate Solutions Fund, DBL Investors, Mayfield Fund, Shea Ventures and Valor Equity Partners, among others.