Davis Polk advised the underwriters in connection with the $251 million initial public offering of shares of common stock of Sunrun Inc. Of the shares sold in the offering, 17,482,268 shares were sold by Sunrun Inc. and 417,732 shares were sold by selling stockholders. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 2,685,000 additional shares of common stock from Sunrun and selling stockholders to cover over-allotments, if any. The common stock is listed on The NASDAQ Global Select Market under the symbol “RUN.”

Based in San Francisco, California, Sunrun pioneered solar as a service and is the largest dedicated residential solar company in the United States. Sunrun provides end-to-end service for homeowners to choose solar energy and receive predictable pricing for that solar energy for 20 years. The company designs, installs, finances, insures, monitors and maintains the solar panels on a homeowner’s roof, while homeowners pay just for the electricity.  

The Davis Polk corporate team included partners Daniel G. Kelly Jr. and Sarah K. Solum and associate Jeffrey C. Lau. The tax team included partner Rachel D. Kleinberg and associate Anthony L. Oliva. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.   

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