Australia's SolarJuice revives US listing plan

Australian solar systems maker SolarJuice Co Ltd, a unit of renewable energy company SPI Energy Co Ltd (NASDAQ:SPI), has revived its plan to go public in the US by publishing a new blank filing with the Securities and Exchange Commission (SEC).

The Sydney-based firm originally filed for the IPO in September 2022. It set the terms of the proposed offering in January, initially seeking up to USD 22.5 million (EUR 21.1m) in gross proceeds from the sale of 2.5 million ordinary shares. Shortly after, the company cut the size of the transaction to up to USD 18 million by lowering the targeted price range for its shares.

SolarJuice has chosen to list its shares on Nasdaq under the trading symbol SJA.

Linton Crystal Technologies Corp, a maker of furnaces for producing monocrystalline ingots, remains as a cornerstone investor in the restarted IPO but the amount to be spent remains unknown.

Maxim Group is the underwriter for the IPO.

SolarJuice provides solar photovoltaic (PV)-based energy solutions and roofing installations for the residential and small commercial building markets in Australia and the US.

The company saw an increase in net revenue to USD 94.8 million in the fiscal year ended on June 30, 2023, from USD 81.5 million a year earlier. Its operating loss narrowed to USD 667,000 from USD 4.44 million in the reporting period.

(USD 1 = EUR 0.938)

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