As filed with the Securities and Exchange Commission on March 11, 2020
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
Vivint Solar, Inc.
(Exact name of Registrant as specified in its charter)
| Delaware | 45-5605880 | |
|
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification Number) |
1800 West Ashton Blvd.
Lehi, Utah 84043
(Address of principal executive offices, including zip code)
2014 Equity Incentive Plan
(Full title of the plan)
David Bywater
Chief Executive Officer
Vivint Solar, Inc.
1800 West Ashton Blvd.
Lehi, Utah 84043
877.404.4129
(Name, address and telephone number, including area code, of agent for service)
Copies to:
|
Robert Day Michael Nordtvedt Wilson Sonsini Goodrich & Rosati Professional Corporation 650 Page Mill Road Palo Alto, California 94304 650.493.9300 |
C. Dan Black General Counsel Vivint Solar, Inc. 1800 West Ashton Blvd. Lehi, Utah 84043 877.404.4129 |
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☒ | |||||
| Non-accelerated filer | ☐ (do not check if a smaller reporting company) | Smaller reporting company | ☒ | |||||
| Emerging growth company | ☐ | |||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
CALCULATION OF REGISTRATION FEE
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Title of Securities to be Registered |
Amount to be Registered (1) |
Proposed Maximum Offering Price Per Share |
Proposed
Maximum
Offering Price |
Amount of
Registration Fee |
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Common Stock $0.01 par value per share: |
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—Reserved for issuance under the 2014 Equity Incentive Plan |
14,330,749(2) | $9.69(3) | $138,864,957.81 | $18,024.67 | ||||
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| (1) |
Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement shall also cover any additional shares of the Registrant’s common stock that become issuable under the 2014 Equity Incentive Plan (the “Plan”) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of the Registrant’s outstanding shares of common stock. |
| (2) |
Represents 14,330,749 additional shares of common stock available for issuance as a result of annual evergreen increases pursuant to the Plan. |
| (3) |
Estimated in accordance with Rule 457(h) of the Securities Act solely for purposes of calculating the registration fee on the basis of $9.69 per share, the average of the high and low prices of the Registrant’s common stock as reported on the New York Stock Exchange on March 9, 2020. |
VIVINT SOLAR, INC.
REGISTRATION OF ADDITIONAL SECURITIES
PURSUANT TO GENERAL INSTRUCTION E
This Registration Statement registers additional shares of common stock of Vivint Solar, Inc. (the “Registrant”) to be issued pursuant to the Registrant’s 2014 Equity Incentive Plan (the “Plan”). Accordingly, the contents of (i) the previous Registration Statement on Form S-8 filed by the Registrant with the Securities and Exchange Commission (the “Commission”) on October 1, 2014 (File No. 333-199077) and (ii) the previous Registration Statement on Form S-8 filed by the Registrant with the Commission on March 17, 2017 (File No. 333-216807) (together, the “Previous Forms S-8”), including periodic reports filed after the Previous Forms S-8 to maintain current information about the Registrant, are incorporated by reference into this Registration Statement pursuant to General Instruction E of Form S-8.
Item 3. Incorporation of Documents by Reference.
The Registrant hereby incorporates by reference into this Registration Statement the following documents previously filed with the Commission:
(1) The Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the Commission on March 10, 2020;
(2) All other reports filed by the Registrant with the Commission pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), since the end of the fiscal year covered by the Annual Report referred to in (1) above; and
(3) The description of the Registrant’s Common Stock contained in the Company’s Registration Statement on Form 8-A (File No. 001-36642) filed with the Commission on September 24, 2014, pursuant to Section 12(b) of the Exchange Act, including any amendment or report filed for the purpose of updating such description.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 8. Exhibits.
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Exhibit Number |
Exhibit Description |
Incorporated by Reference |
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Form |
File No. |
Exhibit |
Filing Date |
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| 4.1 | Specimen common stock certificate of the Registrant. | S-1/A | 333-198372 | 4.1 | September 18, 2014 | |||||
| 4.2 | 2014 Equity Incentive Plan, and forms of agreements thereunder. | S-1/A | 333-198372 | 10.3 | September 18, 2014 | |||||
| 5.1 | Opinion of Wilson Sonsini Goodrich & Rosati, Professional Corporation. | |||||||||
| 23.1 | Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm. | |||||||||
| 23.2 | Consent of Wilson Sonsini Goodrich & Rosati, Professional Corporation (contained in Exhibit 5.1 hereto). | |||||||||
| 24.1 | Power of Attorney (contained on signature page hereto). | |||||||||
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Lehi, Utah, on the 11th day of March, 2020.
| VIVINT SOLAR, INC. | ||
| By: |
/s/ Dana C. Russell |
|
| Dana C. Russell | ||
| Chief Financial Officer and Executive Vice President | ||
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints David Bywater, Dana C. Russell and C. Dan Black, and each of them, as his or her true and lawful attorney-in-fact and agent with full power of substitution, for him or her in any and all capacities, to sign the Registration Statement on Form S-8 of Vivint Solar, Inc., and any or all amendments (including post-effective amendments thereto), and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact, proxy and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact, proxy and agent, or his or her substitute, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and on the dates indicated.
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Signature |
Title |
Date |
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/s/ David Bywater David Bywater |
Chief Executive Officer, Director
(Principal Executive Officer) |
March 11, 2020 | ||
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/s/ Dana C. Russell Dana C. Russell
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Chief Financial Officer and Executive Vice President (Principal Accounting and Financial Officer) |
March 11, 2020 | ||
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/s/ David F. D’Alessandro David F. D’Alessandro |
Director | March 11, 2020 | ||
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/s/ Bruce McEvoy Bruce McEvoy |
Director | March 11, 2020 | ||
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/s/ Jay D. Pauley Jay D. Pauley |
Director | March 11, 2020 | ||
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/s/ Todd R. Pedersen Todd R. Pedersen |
Director | March 11, 2020 | ||
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/s/ Joseph S. Tibbetts, Jr. Joseph S. Tibbetts, Jr. |
Director | March 11, 2020 | ||
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/s/ Peter F. Wallace Peter F. Wallace |
Director | March 11, 2020 | ||
Exhibit 5.1
March 11, 2020
Vivint Solar, Inc.
1800 West Ashton Blvd.
Lehi, Utah 84043
| Re: |
Registration Statement on Form S-8 |
Ladies and Gentlemen:
We have examined the Registration Statement on Form S-8 (the “Registration Statement”) to be filed by Vivint Solar, Inc., a Delaware corporation, with the Securities and Exchange Commission on or about the date hereof, in connection with the registration of the offer and sale under the Securities Act of 1933, as amended, of an aggregate of 14,330,749 shares of common stock, par value $0.01 per share (the “Shares”), reserved for issuance under the 2014 Equity Incentive Plan (the “Plan”).
On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when issued and sold in the manner referred to in the Plan and pursuant to the agreements that accompany the Plan, will be legally and validly issued, fully paid, and nonassessable.
We consent to the use of this opinion as an exhibit to the Registration Statement and further consent to the use of our name wherever appearing in the Registration Statement and any amendments thereto.
| Very truly yours, |
| /s/ Wilson Sonsini Goodrich & Rosati, P.C. |
| WILSON SONSINI GOODRICH & ROSATI |
| Professional Corporation |
Exhibit 23.1
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2014 Equity Incentive Plan of our reports dated March 10, 2020, with respect to the consolidated financial statements of Vivint Solar, Inc. and the effectiveness of internal control over financial reporting of Vivint Solar, Inc. included in its Annual Report (Form 10-K) for the year ended December 31, 2019, filed with the Securities and Exchange Commission.
/s/ Ernst & Young LLP
Salt Lake City, UT
March 11, 2020