Business
Nextracker Announces Pricing of Offering of Class A Common Stock
FREMONT, Calif.--(BUSINESS WIRE)-- Nextracker Inc. (Nasdaq: NXT) (“Nextracker”) announced today that it priced its underwritten offering of 14,210,511 shares
About this update from Nextpower Inc.
FREMONT, Calif.--(BUSINESS WIRE)-- Nextracker Inc. (Nasdaq: NXT) (“Nextracker”) announced today that it priced its 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 at an offering price of $36.50 per share. The offering is expected to close on July 3, 2023, subject to customary closing conditions. In addition, the underwriters of the offering have been granted a 30-day option to purchase up to 1,650,000 additional shares of Common Stock at the offering price from Nextracker and such selling stockholders, less underwriting discounts and commissions. Nextracker expects to use all of the net proceeds from its offering of 14,210,511 shares of Common Stock 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, 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 [email protected]; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, by email at [email protected]; 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 [email protected]; and Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146. A registration statement rel...