Sunnova Energy International Inc.
|Company Name||Sunnova Energy International Inc.|
In July 2019, Sunnova completed its initial public offering (“IPO”) in which it sold more than 14 million shares of common stock for $12 per share.
On August 19, 2019, Sunnova reported a net loss of $85.3 million for the six months ended June 30, 2019, compared with $22.7 million in the prior year period, due to net losses on interest rate swaps.
On this news, the Company’s share price fell $0.85 per share, nearly 8%, to close at $10.36 per share on August 20, 2019, thereby injuring investors. Since the IPO, Sunnova’s stock has traded as low as $10.36 per share, or nearly 14% below its $12 IPO price.
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