From Barron's:
Shares of solar panel installer Vivint Solar (VSLR) are up $1.21, or almost 8%, at $17.21, on their first day of trading, after pricing the IPO at $16 last night, the low end of an expected range of $16 to $18.
The company, based in Lehi, Utah, promises to save residents 15% to 30% on their electricity bills “immediately following system interconnection” after installing panels on a home. The company was founded in 2011, and notes in its S1 filing with the Securities & Exchange Commission its evolution from other home services:
We were founded in May 2011 when Vivint, Inc., a residential security solutions and home automation services provider with approximately 850,000 subscribers as of June 30, 2014, recognized an opportunity to replicate its strong direct-to-home sales model in the solar energy market, and in July 2011 we installed our first solar energy system....MORE
