Buzz Article:
Latest Deal Terms for BrightSource Energy, Inc.

by Justin Byers, Business Intelligence Analyst, 7/8/2010

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In light of last week's Tesla Motors IPO , we are going to take a look at company that also uses another form of alternative energy that is then converted into electricity. BrightSource Energy, Inc. recently brought in an impressive round of financing, and this week we are going to review their latest set of deal terms and valuation for this round.

BrightSource Energy, Inc. is headquartered in Oakland, California. The company develops large scale solar power plants using high-temperature solar thermal technology that concentrates and converts the resulting heat into electricity. This process enables industrial and utility companies to lessen their dependency on fossil fuels by providing a source of renewable energy during periods of peak usage. The company recently closed on part of a Series D round, bringing in approximately $175 MM in new funding. Participants included Draper Fisher Jervetson, Morgan Stanley, VantagePoint Venture Partners, CalSTRS, and Alstom. The Deal Terms of this latest round were:

• Filing Date: 04/01/2010
• Liquidation Preference for the Current Round: Senior
• Round of Financin: Series D
• Multiple of the Liquidation Preference: 1x
• Type of Preferred Stock: Conventional Convertible
• Anti-Dilution Protection: Weighted Average
• Redemption at Investor's Option: No
• Pay-to-Play Provisions: No
• Cumulative Dividends: No
• Dividend Rate: 8%
• Round Direction: Down
• Price Per Share: $6.7246
• Amount Raised in Current Round: $175 MM
• Post-Money Valuation: Subscribe Today!

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