Filed by Vivint Solar, Inc.
pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company:
Vivint Solar, Inc.
(SEC File No.: 001-36642)
Date: July 7, 2020
The following
communication was made by Vivint Solar, Inc. beginning on the evening of July 6, 2020.
Subject: Company Update: Sunrun To Acquire Vivint
Solar
Monday, July 6, 2020
Vivint Solar Employees,
We are excited to announce that we have reached an agreement today with Sunrun, one of the nations leading home solar, battery storage and energy
services companies, to acquire Vivint Solar. This is a transformational opportunity to bring cleaner, more affordable energy to more homes and accelerate our mission to bring clean energy solutions to every home. The combined company will enable us
to use shared knowledge to create better, more affordable products and services for our customers.
The most important details of this announcement are
as follows:
There will not be any immediate impact on employees
day-to-day roles. We expect the deal to close during the fourth quarter of 2020, but the timing could change, as closing the deal is subject to approval of the
Vivint Solar and Sunrun stockholders, regulatory approvals and other customary closing conditions. The two companies will continue to operate as separate entities until the deal closes. During that time, the companies will continue business
as usual. Integration planning discussions will begin immediately to help define the future and ensure a smooth transition for our employees and customers. When the deal closes, we will share more details as developments occur.
Once the acquisition is completed, Vivint Solar will begin doing business as Sunrun. Sunrun will be welcoming Vivint Solars nearly 200,000
customers into the Sunrun family, with nearly half of a million customers as a combined company. Lynn Jurich will continue as the CEO of Sunrun, I will lead the integration teams and will also be part of Sunruns Board of Directors.
Our current customers will continue to receive the same great products and services we offer today. Nothing changes for our customers. After the deal
closes, we believe the combined knowledge and best practices of our two industry-leading companies will allow for a better customer experience, from the sale to installation processes and any ongoing service needs.
Sunruns business model and portfolio are complementary to Vivints business model and portfolio. Weve been incredibly impressed with
Sunruns commitment to the highest quality sales process and installation quality. Like Vivint Solar, Sunrun has adapted well to the current environment in terms of the necessary public health response, accelerating its digital lead generation
efforts and providing a contactless selling and installation experience. Combining company brain trusts and resources will lead to new and better processes for our customers without sacrificing quality or consistency.