Elawan bags Google PPA for 37-MW solar project in Texas
Sep 19, 2024 13:49 CESTUS solar tracker maker Nextracker Inc (NASDAQ:NXT) is looking at close to USD 520 million (EUR 476.3m) in gross proceeds from an underwritten offering of Class A common stock it priced on Wednesday.
The company said in a statement it is offering 14.21 million shares at USD 36.50 apiece in a transaction that is scheduled to close on July 3. Certain stockholders of Nextracker will concurrently offer a total of 2.29 million shares at the same price, but the company will get no proceeds from that particular sale.
The underwriters have received a 30-day option to buy up to 1.65 million additional shares at the offering price from both Nextracker and the selling stockholders.
With the net proceeds it secures, Nextracker intends to purchase the same amount of common units in Nextracker LLC from Yuma Inc, an indirect wholly-owned subsidiary of Flex Ltd, and TPG Rise Flash LP.
JP Morgan, BofA Securities, Barclays and Citigroup serve as joint lead book-running managers for the offering.
(USD 1.0 = EUR 0.916)
Elawan bags Google PPA for 37-MW solar project in Texas
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