The board of Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, approved a decrease in the organizational and offering costs charged per share from 5 percent to 1.5 percent per share.
“As we have achieved scale in our business we have been able to more effectively manage the costs of our capital raise,” said Charles Wheeler, CEO of the company.
Due to the changes in the O&O costs, the company revised the per share offering price for each class of shares effective May 18th. Class A shares will be priced at $9.735 each, Class C shares will be $9.067 each, and Class I shares will be $8.942 each. While the public offering price has changed due to lower expenses, the net asset value for each share class remains unchanged.
Previously, the per share offering price for Class A, Class C, and Class I shares was $10.224, $9.526, and $9.391 per share, respectively.
As reported by The DI Wire, the company approved estimated net asset values for its share classes earlier this year. Class A and Class I shares are valued at $8.69 per share, and Class C shares are valued at $8.44.
Greenbacker Renewable Energy Company LLC invests in income-producing renewable energy power plants, energy efficiency projects and other sustainable investments. Based in New York City, the company operates solar and wind facilities throughout the United States and Canada, and oversees a $100+ million portfolio of alternative energy assets.