Nextracker Announces Launch of Offering of Class A Common Stock
26 Junho 2023 - 5:51PM
Business Wire
Nextracker Inc. (Nasdaq: NXT), a global market leader in
utility-scale solar trackers, announced today that it has launched
a proposed underwritten offering of 14,210,511 shares of its Class
A common stock (“Common Stock”) offered by Nextracker and 2,289,489
shares of Common Stock offered by certain stockholders of
Nextracker. The underwriters of the offering will also have a
30-day option to purchase up to 1,650,000 additional shares of
Common Stock from Nextracker and such selling stockholders. On June
23, 2023, the last reported sale price of Nextracker’s Common Stock
on the Nasdaq Global Select Market was $38.63 per share. The
offering is subject to market conditions and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Nextracker expects to use all of the net proceeds from the
offering of 14,210,511 shares of Common Stock by Nextracker to
purchase 14,210,511 Nextracker LLC common units from Yuma, Inc., an
indirect wholly owned subsidiary of Flex Ltd., and TPG Rise Flash,
L.P., an affiliate of the global alternative asset management firm
TPG. Nextracker will not receive any proceeds from the sale of the
shares of the selling stockholders.
J.P. Morgan, BofA Securities, Barclays, and Citigroup are acting
as joint lead book-running managers for the offering. Truist
Securities, HSBC, BNP PARIBAS, Mizuho, KeyBanc Capital Markets and
Scotiabank are acting as joint book-running managers for the
offering. SMBC Nikko, BTIG, UniCredit Capital Markets, Roth Capital
Partners and PJT Partners will act as co-managers for the
offering.
The offering will be made only by means of a prospectus. Copies
of the preliminary prospectus, when available, may be obtained
from: the U.S. Securities and Exchange Commission (the “SEC”) at
www.sec.gov; and J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
by telephone at (866) 803-9204 or by email at
prospectus-eq_fi@jpmchase.com; BofA Securities, NC1-022-02-25, 201
North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus
Department, by email at dg.prospectus_requests@bofa.com; Barclays
Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by
email at barclaysprospectus@broadridge.com; and Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, by telephone at (800) 831-9146.
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. The Common
Stock may not be sold, nor may offers to buy any Common Stock be
accepted, prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy any securities, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction. Any offers, solicitations or offers to
buy, or any sales of securities will be made in accordance with the
registration requirements of the Securities Act of 1933, as
amended.
About Nextracker
Nextracker is a leading provider of intelligent, integrated
solar tracker and software solutions used in utility-scale and
ground-mounted distributed generation solar projects around the
world. Our products enable solar panels in these projects to follow
the sun’s movement across the sky and optimize plant
performance.
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version on businesswire.com: https://www.businesswire.com/news/home/20230626870889/en/
MEDIA & PRESS Kristan Kirsh Vice President, Global Marketing
kkirsh@nextracker.com INVESTORS & ANALYSTS Don Quinby Director,
Finance dquinby@nextracker.com
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