Massachusetts-based wind developer First Wind has set terms for its initial public offering (IPO), the Wall Street Journal reports. The company is expected to raise as much as $312 million.
First Wind plans to offer 12 million shares ranging in price from $24 to $26 each. It's proposed trading symbol on NASDAQ is ‘WIND.’
The company plans to use up to approximately $98 million to make payments on or to retire loans. The rest of the funds will be used for project development and construction costs.
SOURCE: The Wall Street Journal