SolarCity Slashes IPO Share Price -- Nothing To Do With The Bakken

MDW blogged about this Monday; mentioned the IPO should be watched (LA Times link). The "green energy" fad is over?

SolarCity Corp. expanded the size of its highly anticipated initial public offering but knocked down the share price in what analysts said was a bid to boost investor demand.

The San Mateo company said in a Wednesday filing with the Securities and Exchange Commission that it plans to sell 11.4 million shares at $8 apiece. That values the company, which is one of the country’s largest providers and installers of residential and commercial solar power generating systems, at about $584.6 million.

Earlier, SolarCity had pegged its valuation at roughly $1 billion, expecting to sell 10.1 million shares at $13 to $15 each. The company is known for the financing options it gives customers, including a lease program designed to limit upfront costs for homeowners.

So, we'll see. 

$90 million vs $150 million. Whatever.