Money-Losing Window Company View Raises $200 Million in Convertible Senior Notes
Posted on 10/27/2022
Milpitas, California-based View, Inc. raised $200 million in Convertible Senior Notes. This is following the inclusion of its smart windows in the Investment Tax Credit (ITC) within the recently passed Inflation Reduction Act of 2022. The investment is led by RXR-affiliated investment vehicles, with participation from USAA Real Estate, Anson Funds, and the Environmental Strategies Group of BNP Paribas Asset Management, as well as other new and existing investors. Scott Rechler, Chairman and CEO of RXR, will join View’s Board of Directors.
View went public via the SPAC route. For the fiscal year of 2021, View had a loss of US$ 342,978,000, while revenue was US$ 74,007,000 and cost of revenue was US$ 194,714,000.
Some of View’s past and former investors include GIC Private Limited, New Zealand Superannuation Fund, and SoftBank.
