EnerNOC, Inc. Announces Closing of Its Initial Public Offering and Exercise of Over-Allotment Option
May 24, 2007
For Immediate Release
Initial public offering of 4,312,500 shares of common stock at $26.00 per share
BOSTON, Massachusetts (May 24, 2007) — EnerNOC, Inc. (NASDAQ: ENOC) today announced the closing of its initial public offering of 4,312,500 shares of its common stock at a price of $26.00 per share, including 562,500 shares sold by the Company pursuant to the underwriters' exercise of their over-allotment option. Of the 4,312,500 shares, EnerNOC sold 4,087,500 shares and selling stockholders sold 225,000 shares. The net proceeds to EnerNOC, before expenses, are approximately $99 million. The shares are listed on the NASDAQ Global Market under the symbol “ENOC.”
Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. Incorporated acted as joint book-running managers for this offering. Canaccord Adams Inc. and Jefferies & Company, Inc. acted as co-managers.
A registration statement has been filed with, and declared effective by, the Securities and Exchange Commission. Copies of the final prospectus related to the offering may be obtained from Credit Suisse Securities' Prospectus Department, One Madison Avenue, New York, NY 10010 by calling 800-221-1037, or by faxing requests to 212-325-8057, or from Morgan Stanley's Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 by calling 866-718-1649, or by e-mailing requests to email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.
About EnerNOC, Inc.
EnerNOC, Inc. is a leading developer and provider of clean and intelligent energy solutions to utilities and electric power grid operators, as well as commercial, institutional, and industrial customers. EnerNOC’s technology-enabled demand response and energy management solutions help optimize the balance of electric supply and demand. The Company uses its Network Operations Center, or NOC, to remotely manage and reduce electricity consumption across a network of commercial, institutional, and industrial customer sites and make demand response capacity and energy available to utilities and grid operators on demand. For more information, visit www.enernoc.com.
About Braemar Energy Ventures
Founded in 2003, Braemar Energy Ventures is a leading venture capital firm focused on transformative energy-tech and related companies contributing to global sustainability and combating climate change. Using sector expertise and experience, Braemar aims to be an engaged partner with its portfolio companies to best help them navigate the path to significant global impact. For more information, visit braemarenergy.com or follow @BraemarEnergy on Twitter.