NEW YORK--(BUSINESS WIRE)--Greenbacker Renewable Energy Company LLC (the “Company”) announced today that its Board of Directors (“Board of Directors”) approved the September 30, 2016 net asset value per share for Class A and I shares of common stock of $8.74, respectively, an increase of $0.05 per share from the prior quarter end’s valuation. In addition, the Board of Directors approved the September 30, 2016 net asset value per share for Class C shares of common stock of $8.49, an increase of $0.06 per share from the prior quarter. Due to the changes in net asset value per share, the Company revised the per share offering price for each class of shares effective November 7, 2016, to the following - $10.282 per Class A share, $9.530 per Class C share and $9.445 per Class I share.
Due to the change in the share offering prices, the Company’s Board of Directors authorized cash distributions payable on December 1, 2016 and January 3, 2017 to shareholders of record as of November 30, 2016 and December 30, 2016, respectively, of $0.00168557 per share, per day for Class A and I shares and $0.00164022 per share, per day for Class C shares to maintain the current annual distribution rates.
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company is a publicly registered, non-traded limited liability company that expects to acquire a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments.
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in the Company‘s expectations.