Solar IPO for STR Holdings (STRI) Opens Higher After Pricing Lower
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- Solar IPO for STR Holdings (STRI) Opens Higher After Pricing Lower
The IPO for STR Holdings, Inc. (NYSE: STRI) is open for trading. Shares are trading at $10.92 after pricing 12,300,000 shares at $10.00 per share, below the expected range of $11-$13.
Of the shares being sold, 3,300,000 are being offered by the Company and 9,000,000 shares are being offered by selling stockholders.
Credit Suisse and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Cowen and Company, Jefferies & Company, Lazard Capital Markets and Macquarie Capital (USA) acted as co-managers of the offering.
STR Holdings, Inc. is a leading global provider of encapsulants to the solar module industry. It is also a leader in the consumer products quality assurance market, providing inspection, testing and audit services to retailers and manufacturers, around the globe to enable them to determine whether their products and facilities meet applicable, safety, regulatory, quality, performance, and social standards.
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