On May 13, 2020, Sunnova entered into a new $130 million senior unsecured convertible note facility (the "Facility") to issue and sell $130.0 million aggregate principal amount of 9.75% convertible senior notes due 2025 (the "new notes") in a private placement. The Facility includes a 30-day option in which the investors may purchase up to $60 million in additional notes. The notes are convertible at the option of the investors at an initial conversion rate equivalent to $13.50 per share of common stock.