Hannon Armstrong Sustainable slides on $300 mln stock offering

HA Sustainable Infrastructure Capital

25/05/2023 13:33

** Hannon Armstrong Sustainable Infrastructure Capital Inc's
 HASI.N  shares down 4% at $23.10 premarket after follow-on
prices
    ** Renewable energy-focused REIT late Weds announced ~13 mln
shares at $23, 4.4% discount to last sale, for $300 mln raise
    ** HASI fell 9.8% on Weds, leaving stock down 17% YTD and
off ~36% over the past 12 months
    ** Co intends to use net proceeds for general purposes
    ** JP Morgan and BofA among multiple jt bookrunners on the
offering
    ** Hannon has ~91.9 mln shares outstanding for ~$2.2 bln
market cap

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))