UPDATE: Elon Musk's SolarCity (SCTY) IPO Prices at $8

December 13, 2012 8:28 AM EST
(Updated - December 13, 2012 8:29 AM EST)

SolarCity Corporation (NASDAQ: SCTY) priced its IPO of 11,500,000 shares of common stock at a price of $8.00 per share, in-line with the recently reduced price target range (from $13-$15). Shares will open on the NASDAQ today under the symbol "SCTY."

Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC and BofA Merrill Lynch are acting as the representatives of the underwriters and joint book-running managers for the offering. Needham & Company, LLC and Roth Capital Partners are acting as co-managers.

SolarCity - a national leader in clean energy services - provides homeowners, business and government organizations cleaner, more affordable alternatives to their utility bills. The company makes it simple for customers to lock in lower, long-term rates for clean energy by providing everything from permitting and installation to ongoing monitoring and maintenance.

Elon Musk, of Tesla (Nasdaq: TSLA) and SpaceX fame, is the founder and Chairman of SolarCity. Prior to SpaceX and Tesla, Elon co-founded PayPal.

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