Sunrun Inc. priced its initial public offering at $14 a share late Tuesday, in line with expectations, according to people familiar with the deal.
The company, which leases solar-power systems to homeowners, and selling shareholders raised about $251 million by selling 17.9 million shares, the people familiar with the offering said. It had planned to sell the shares at between $13 and $15.
Sunrun is based in San Francisco and has been in operation since 2007. It makes money by installing solar panels on residential homes and receiving monthly payments from homeowners for the duration of the contract.
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