Flex's Nextracker Raises Over $638M Via Upsized IPO; To Begin Trading Today

  • Flex Ltd FLEX owned solar technology firm Nextracker Inc NXT raised $638.4 million via an upsized initial public offering of 26.6 million shares at $24 per share.
  • Nextracker upsized the offering from 23.3 million shares it chose to offer at $20.00 - $23.00 per share.
  • Nextracker will likely trade on the Nasdaq under the ticker symbol "NXT" on February 9, 2023.
  • The underwriters have 30 days to purchase up to 3.99 million shares.
  • Nextracker provides intelligent, integrated solar tracker and software solutions used worldwide in utility-scale and distributed-generation solar power plants.
  • Price Action: FLEX shares closed lower by 1.23% at $24.15 on Wednesday.
Posted In: NewsIPOsTechBriefs