Investors Draper Fisher Jurvetson, DBL, and SolarCity chairman and main backer Elon Musk purchased a third of the available 11.4 million shares. SolarCity raised $92 million in the offering, and closed the day with a $585 million market cap.
The company has had no trouble getting investor and media attention, thanks in part to its chairman and largest shareholder, Tesla Motors (TSLA) and SpaceX CEO Musk. Musk’s cousins Lyndon Rive and Peter Rive co-founded the solar company in 2006.
SolarCity’s successful IPO is a positive note in an otherwise very rough patch for green tech investments.