RTTNews | May 17, 2021 09:58AM EDT

09:57 Monday, May 17, 2021 (RTTNews.com) - Sunnova Energy International Inc. (NOVA) shares are trading lower on Monday morning trade after the residential solar and energy storage service provider proposed private offering of $500 million of Convertible Senior Notes, due 2026.

Sunnova intends to allocate a portion of the net proceeds from the offering to repay outstanding debt, for other general corporate purposes, and to finance or refinance recently completed, pending, or future eligible green projects.

Currently, shares are at $26.45, down 8.45 percent from the previous close of $28.75. The shares have traded in a range of $13.16-$57.70 on average volume of 2,549,319 for the last 52 weeks.

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