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Windfarm company First Wind sets IPO terms and timing

October 13, 2010

First Wind Holdings, an independent developer, owner and operator of windfarms in the U.S., announced terms for its IPO on Wednesday. The Newton, MA-based company plans to raise $300 million by offering 12,000,000 shares at a price range of $24.00 to $26.00. At the mid-point of the proposed range, First Wind Holdings will command a market value of $1.2 billion. First Wind Holdings, which was founded in 2002 and is backed by D.E. Shaw and Madison Dearborn, plans to list on the NASDAQ under the symbol WIND. Credit Suisse, Morgan Stanley, Goldman, Sachs and Deutsche Bank Securites are the lead underwriters on the deal, which is expected to price the week of October 25.