Nextracker Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares in Offering of Class A Common Stock
30 Junho 2023 - 2:18AM
Business Wire
Nextracker Inc. (Nasdaq: NXT) (“Nextracker”) announced today
that in connection with its previously announced 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
have exercised in full their option to purchase 1,650,000
additional shares of Common Stock from Nextracker and such selling
stockholders at the offering price of $36.50 per share, less
underwriting discounts and commissions. The offering is expected to
close on July 3, 2023, subject to customary closing conditions.
The net proceeds from the offering to Nextracker, after
deducting the underwriting discounts and commissions and including
proceeds from the underwriters’ exercise of the overallotment
option, are expected to be approximately $552.01 million. The net
proceeds from this offering will be used to purchase 15,631,562
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, Craig-Hallum and PJT Partners are acting as co-managers
for the offering.
The offering will be made only by means of a prospectus. Copies
of the 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, and declared effective by, the SEC on June 28, 2023.
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/20230629634290/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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