Coatue Management, L.L.C. entered into stock purchase agreement to acquire 9.27% stake in Vivint Solar, Inc. (NYSE:VSLR) from Blackstone Capital Partners VI, L.P., a fund managed by The Blackstone Group Inc. (NYSE:BX) for $250 million on August 17, 2020. Coatue Management will acquire 11.6 million shares of Vivint Solar common stock for $21.50 per share. Coatue agreed to vote shares of Vivint Solar common stock acquired in the purchase in favor of the adoption of the merger agreement filled by Sunrun, Inc. Joshua Dubofsky and Gregory Rodgers of Latham & Watkins LLP acted as legal advisors to Coatue Management, L.L.C.

Coatue Management, L.L.C. completed the acquisition of 9.27% stake in Vivint Solar, Inc. (NYSE:VSLR) from Blackstone Capital Partners VI, L.P., a fund managed by The Blackstone Group Inc. (NYSE:BX) on August 21, 2020. As a result, Blackstone Capital Partners' ownership of Vivint Solar common stock was reduced from approximately 55.5% to approximately 46% of the outstanding shares.