Infrastructure and Energy Alternatives, Inc. (IEA) Prices 8M Share Common Offering at $16.75/Sh

February 4, 2021 10:05 AM EST

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Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) today announced the pricing of its previously announced underwritten offering of 8,000,000 shares of common stock by Infrastructure and Energy Alternatives, LLC (the “Selling Stockholder”), an affiliate of funds managed by Oaktree Capital Management, L.P., at a price to the public of $16.75 per share (before underwriting discounts and commissions). Total gross proceeds to the Selling Stockholder will be approximately $134.0 million. In addition, the Selling Stockholder has granted the underwriters a 30-day option to purchase up to an additional 853,283 shares of common stock at the public offering price, less underwriting discounts and commissions.

IEA is not selling any shares of common stock and will not receive any proceeds from this offering.

Guggenheim Securities is acting as the sole book-running manager for the offering. Stifel and D.A. Davidson & Co. are acting as co-managers.

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