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TerraForm Power IPO priced at $25 per share

SunEdison, (SUNE) and TerraForm Power, (TERP) announced yesterday that TerraForm Power, a subsidiary of SunEdison, has priced an underwritten initial public offering of 20,065,000 shares of its Class A common stock at a price to the public of $25.00 per share. The shares will begin trading on the NASDAQ Global Select Market on July 18, 2014 under the ticker symbol “TERP,” the companies stated. In connection with this offering, TerraForm Power has granted the underwriters a 30-day option to purchase up to an additional 3,009,750 shares of Class A common stock at the initial public offering price, they noted. TerraForm Power will also receive gross proceeds of $65M from the sale of shares of Class A common stock in connection with two concurrent private placement transactions at a price per share equal to the initial public offering price, the companies said.